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Are There More First-Time Buyers Than we Think?
Tuesday, May 5, 2015
Given how critical first-time homebuyers are
to the housing system the Urban Institute says it is important to accurately
measure how present they are in the market.
The National Association of Realtors® (NAR) has consistently said that
such homebuyers typically represent 40 percent of buyers in a healthy market
and has reported the share as remaining below this mark since mid-2010. In a House Policy Research Center brief for
the Institute, The Urban Institutes Housing Finance Policy Center
Director Laurie Goodman and fellow researchers Bing Bai and Jun Zhu
contend that the widely accepted measures of the percentage of first-time
buyers such as those provided by NAR "are overbroad and sometimes
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