August 1st, 2014 6:00 PM by Dana Bain
“A full recovery that includes first-time homebuyers is still years away; many young adults still need to find jobs and keep them long enough to save for a down payment and qualify for a mortgage. Until that happens, the clearest signs of recovery will be apartment construction and renter household formation, not first-time home buying, as young adults move from their parents’ homes into their own rental units.” –Jed Kolko, chief economist of Trulia, discussing “what’s missing” from the housing recovery.