Younger Set Becoming Less Inclined to Buy Real Estate (1)
A study by the Association of Real Estate Companies found that the number of young people planning on buying a home has halved in three months.
In March, 29 percent of 16 to 29-year-olds were planning to buy real estate in the next two or three years, but that figure has dropped to only 15 percent in June, the association said in a press release today.
"The bravado of the young has been replaced by realism," Tõnis Rüütli, the head of the association said, adding that the change was welcome as young people without recession-era experience have ability to cause a new real estate bubble.
The combined figure for all age groups was 8 percent in June, while 11 percent were planning a purchase three months ago.
The study, commissioned by the Institute of Economic Research, polled 800 people.