It has been a long time since first time buyers had opportunities to purchase a home.
The good news is the market is correcting itself. Lenders are offering products with as little as 3% down. Interest rates remain low. First time buyers have decent jobs and credit, but not a lot of savings. That is why the 3% down lending opportunities are going to be plus to them. I don't believe that renters are satisfied renting - most of the young people I know would love to own a home. They just did...