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ยป VISIT US ONLINE @ DSNEWS.COM 85 a variety of potential housing solutions, includ- ing rehabbing houses," Mueller said. "The city's involvement for the next year will be determined during the 2018 budget process, when we work with council members to direct resources toward services that deliver the greatest impact for our residents." MISSOURI St. Louis in Top 10 Markets for Millennials According to a recent study, St. Louis, Mis- souri, is in the top 10 most popular metros for millennials, which is the largest generation of adults and represents a little over a third of the housing market. Still, young people aged 18 to 35 are having trouble finding affordable housing, largely due to high student debt, lower wages, smaller inven- tory, and tighter lending standards. But, with more millennials reaching their mid-30s and financial stability, more are ready to enter the market. As such, millennials are having to get creative with where they are searching for their future home. According to Peter Lazaroff of Plan Corp, Midwestern cities like St. Louis are attractive to first-time homebuyers because they are away from the coast and oftentimes have cheaper than average home prices, meaning the dollar goes farther in terms of square footage. Coupled with a lower cost of living in this region means millennials aren't struggling as much. Also, home prices in the Midwest and the South are generally lower than their coastal counterparts in the East and West, and don't swing as much. Millennials' looking toward less sought-after cities has a few different effects on the housing market, namely that new home builders are shifting their focus to building starter homes in order to satisfy the needs of a growing market. Millennials usually purchase cheaper homes, and starter homes are usually the way they go. Further, their increased interest impacts housing prices of smaller homes more than it does for those of larger houses. Lazaroff does see millennials jumping into the housing market for the wrong reasons though. e first mistake he sees young people making is viewing their house solely as an investment, rather than a place to live. Millenni- als should remember that building home equity doesn't always outweigh the benefits of paying rent, and they should avoid buying a house solely for a mortgage deduction. DS News is the only publication in the country solely dedicated to providing default servicing professionals with news and content focused on their industry. SUBSCRIBE TO THE LEADER IN DEFAULT SERVICING NEWS SUBSCRIBE NOW! Call 214.525.6700 or connect with us online at DSNews.com.