Oct. 27, 2005 - Only The Good Buy Young

Younger buyers are jumping into the real estate market, despite their large
student-loan debts, minimal credit histories and lack of savings. Like many
Americans, this younger set fears that waiting could push them out of the
housing market for good. Thirty-nine percent of homebuyers in 2004 were
18- to 34-year-olds, and 12 percent of first-timers were under the age of 25,
according to NAR. Some young buyers resort to interest-only mortgages or
co-buying with friends to make the purchase. Real estate practitioners say
they've noticed more young buyers get emotionally attached to a particular
home. They also report these buyers tend to be less experienced when it
comes to negotiations, often accepting terms that leave them vulnerable
to future financial turmoil.

Source: Washington Post (10/26/05); Mui, Ylan Q.; Rosenwald, Michael
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