Housing Watch: Fresno State students learn about real estate
FRESNO, Calif. (KFSN) — Teaching the next generation about real estate was the focus at Fresno State’s Youth Empowered Affordable Housing Summit.
As the housing market continues to change, first-time home buyers can feel quite discouraged and overwhelmed.
To combat that feeling and prepare the next generation to become homeowners, Youth Voice Impact founder George Starbuck invited high school seniors and college students throughout the Valley to explore their options in real estate.
“As to what homeownership is for the next generation, in a way that doesn’t incorporate numerical numbers,” said Starbuck.
Organizers say students will be introduced to a new idea when it comes to buying property in a market that has changed dramatically — comparing the differences between now and when their parents likely purchased a home.
“That if you work hard, you could qualify for that loan in order to buy the house, but that was a time to where our wages justified the payment on our home,” said Starbuck.
Congressman Jim Costa, was a keynote speaker on Friday and explained how homeownership relates to a strong middle class, something that seems out of reach for many because of skyrocketing prices.
“The single largest investment that the average American family ever makes in their lifetime is the purchase of a home,” said Costa.
“They also give financing advice, on maybe you should try budgeting like this if you’re thinking about it, especially right now since the advice is for future homeowners, where they’re also giving advice for the present. Like, this is what you can be doing to be able to get that home,” said Krystal Mendoza, a Fresno State student.
Another tool heavily discussed at the event was equity, and how generations can use it for life’s big decisions.
“To be able to use the equity in that home to maybe help with their child’s education or maybe they want to start a business, so equity is an important part of home ownership,” said Costa.
For future homeowners, this event will continue into Saturday.