10192017Thu
Last updateWed, 11 Oct 2017 2pm

The incredible, disappearing home down payment

(Axios | Christopher Matthews) Many real estate markets across the U.S. are in the midst of an affordability crisis because of rising home prices, tight access to credit, and a homebuilding industry that has been slow to build new homes.

That's made it hard for renting millennials — the oldest of whom are well into the prime homebuyers years of their mid-thirties – to afford down payments. 70% of them in a recent survey by real estate data company Zillow said that saving a down payment was the single biggest factor preventing them from buying,

Why this matters: Entrepreneurs across the country are recognizing the opportunity to profit from a broken real estate finance industry that is failing to serve many prospective homebuyers. Startups like Unison and Loftium are looking to profit by investing money upfront with real estate shoppers.

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