Young people are being shunned from housing market: study

But 2016 and 2017 data suggests that more first-time homebuyers are emerging

From TRD South Florida: An estimated 3 million new homebuyers over the past decade have been shunned from the market and it could be hindering a housing market recovery, according to a new study by Genworth Mortgage Insurance that will be released Thursday.

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Factors deterring young people from venturing into buying their first home include shortages in affordable housing, tighter lending standards, looming student loans, and higher rent prices, according to a report in the Wall Street Journal. Genworth performed the study by analyzing mortgage data from Fannie Mae, Freddie Mac, the Federal Housing Administration, and Veterans Affairs among other sources.