Young professionals are putting off buying homes in metropolitan Milwaukee, forcing the banking and housing industries to make adjustments to capture business from this lucrative segment.
Kyle and Laura Stephens’ homebuying experience went something like this: graduate college, rent a 450-square-foot apartment near downtown Milwaukee, settle into jobs, save money while paying off a combined total of $900 a month in student loan debt, get married and — at age 26 — take out a mortgage for a St. Francis condominium. And to many millennials, that’s an expedited timeline.
David Bauer, senior vice president and director of mortgage sales at Associated Bank, provides insight.
View the full article here in the Milwaukee Business Journal.