Like many thirtysomethings, Sarah Francis is hearing the call of homeownership.
With a recent price softening in some markets, the 32-year-old Chicagoan thinks it may be a great time to jump into a condo.
She worries about borrowing—she has no credit card or student loan debt—and she’s managed to accumulate about $40,000 in cash from her income as a nurse practitioner over the last several years, saving money by renting a room at a friend’s house. She’s also socked away almost $68,000 for retirement.
And buying a home seems like a popular move for people moving into their 30s: More than half (56 percent) of people 30 to 34 were homeowners in 2006, a big jump from the rate of 42 percent among people in their late 20s, Census Bureau figures show.