First American Deputy Chief Economist Odeta Kushi was interviewed on Yahoo! Finance earlier this month, discussing why the housing market is better positioned in this recession than it was heading into the Great Recession, and how low rates and millennials are driving demand.
“You have to remember that we were seeing this demographic demand for home buying even preceding this economic decline. You have the largest generation in U.S. history that’s aging into their prime home buying years and they were looking to buy homes even preceding this crisis. Now, of course, the low mortgage rates are making it a little bit more enticing and we’re seeing a boost in demand.”