Things are looking up, with employment among 25- to 34-year olds reaching its highest level since the end of 2008, the Bureau of Labor reported.
Young people with jobs and freshly increased wages won’t immediately come rushing into the housing market, however. They will have to save up for down payments and manage their student loan debt first, said Jed Kolko, chief economist at Trulia.
Another big hurdle: incomes.
“They need to see that growth in their income is substantial before they take on that financial obligation, which is the largest they’ll probably have in their life,” said Doug Duncan, chief economist at Fannie Mae.