AFN News Services
A lot of ink has been spilled over the woes of first-time home buyers struggling to save up for a down payment while paying off student loan debt, securing a mortgage in an age of sky-high credit scores, and then finding an abode they can afford at a time when the lack of properties on the market is driving prices to new heights.
But what about repeat home buyers—folks who already own the roofs over their heads, but want to trade up for a bigger residence or move to a new location? They haven’t exactly been faring too well either.
In fact, there were about half as many second- or even third- or fourth-time buyers in 2015 as there were in 2001, according to a recent report from the Housing Finance Policy Center at the Urban Institute, a Washington, DC–based think tank.
