
Homebuilders change their focus from move-up to entry-level buyers as sales wane in the move-up market and more Millennials buy entry-level homes. Homebulders typically provide product for all levels of the housing market. However, after the housing bust, most homebuilders completely abandoned the entry-level market, leaving this market segment vastly under served -- sort of. The main reason homebuilders quit building this product is because for many years, they couldn't sell it. The Great Recession forced many Millennials, the next generation of buyers, to live with their parents or rent an apartment because they couldn't earn enough money to pay of their sizable debts and save for a down payment. So while the need for entry-level housing was great, there…[READ MORE]