As I wrote yesterday, First time home buyers do have their challenges however I believe they are an important segment of the market. If potential first time homebuyers do a rent VS. buy analysis and they consider  lower down payment requirements as well as loosening of credit requirements, they will come to the decision it makes sense to buy.

This is not an easy decision and it takes the right advice from real estate and mortgage professional to minimize potential mistakes.

“WASHINGTON – Dec. 10, 2014 – Congress and the administration must address key policy issues to create a healthy real estate market that serves current homeowners, future homeowners and the national economy, according to National Association of Realtors® (NAR) testimony before the U.S. Senate Banking Subcommittee on Housing.

"The housing market hasn't been this unwelcoming to first-time buyers since 1987," said 2014 NAR Conventional Finance and Lending Committee Chair Mabel Guzman. "Tight credit, high fees and low inventory have combined to make it prohibitively expensive for millions of responsible, creditworthy prospective buyers to own a home. If this is the direction that the housing market is taking, we're headed down the wrong path."”