Dream of "My Own Home" Coming True Faster

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Dream of "My Own Home" Coming True Faster

The lengthy and continued stagnation of the real estate market is helping those who dream of a 'Home Sweet Home' attain one faster than before.
According to the Korea Housing Bank, housing prices have been deeply decreasing for the past two consecutive years which is helping young people to get into the housing market earlier than the traditional waiting period.
On January 6 the bank revealed its research which targeted residents of 2,000 households living in 13 major cities who had purchased their homes during 1998. It took them about 7.7 years on average to purchase their home after marriage. This is a little bit shorter than 1997's eight-year average.
These people moved on average 4.4 times per household before they moved into their own home.
The average time period after marriage to buy a house took 9 years in 1993, 8.5 in 1994, 7.9 in 1995, 8.1 in 1996, 8 in 1997 and 7.7 years last year.
The most considered point when buying a house was 'the residence's location and environment' followed by 'educational opportunities for children'.
The respondents average age was 39.2 years and the number of family members per household was 3.7.
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