Although the housing market began it’s turnaround in 2012, many first-time buyers and young professionals have been unable to join in due to questions in the labor market and a sluggish increase in wages. Many of these professionals have been forced to rent or move in with their parents. At last, this seems to be changing.
According to analysts, an increase in jobs and a subsequent increase in wages means that many of this group will be first-time buyers in 2015. It is reported that incomes should rise an average of 1.7 percent, the highest increase since 2008. For workers under the age of 45 this increase is expected to be 4.7 percent. Good news, all around.