The pent-up demand for the millennial generation to buy houses is starting to surface, according to a report from Rob Chrisman.
Millennials, which range from 18 to 34, have put off buying houses due to the recession, high unemployment and student loan debt.
In the report, Chrisman explained that a lot of lenders are prepping for the upcoming demand.
Hamilton Group Funding, a Florida based mortgage banker, is continuing its aggressive expansion plans in multiple states, seeking to acquire mortgage firms or branches with $50 to $250 million in annual residential production, Chrisman said.
In addition, Chrisman noted that First Guaranty Mortgage Corporation is growing its retail division, adding loan officers and operational staff in New Jersey.
Millennials are 90 million strong according to Chrisman, and as the demand increases, the industry will have to prepare itself to meet the surge.
Lenders prep for increase in millennial housing demand | HousingWire.