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[Missing Baggage] First Time Buyers Start To Get Real

Ok, so buyers are more scarce than they were before. Credit availability, rising unemployment and compensation are the primary concerns.

But those who will lead us out of this market are likely going to be the ones who were never in it – first time buyers because they have little baggage to carry with them.

The New York Times has run two fairly strong pieces on this topic in recent weeks:

A Windfall for (Some) Buyers [NYT 1-16-09] [1]
Door Opens for First-Time Buyers [NYT 3-13-09] [2]

First time buyers are starting to be a factor in the current market, which is something we saw in the mid-90’s after a down market.

A First-Time Buyer’s Primer and Road Map [NYT 3-3-96] [3] About Real Estate; First-Time Buyers Lift Sagging Market [NYT 8-11-95] [4]

And of course, at the tail end of the 1990-91 recession…

First-Time Home Buyers Now Leading The Market [NYT 6-23-91] [5]