The fall of the golf course community and rise of the … agrihood?
Posted On January 30, 2019
The good news for the real estate market is that millennial home-buying has slowly been trending upward since 2017. If you live in a golf course community and was hoping that’d help your property values, however, the news maybe isn’t so good. According to the Wall Street Journal, millennials are shunning such communities because they “are not interested in golf,” leaving property values along the fairways sliding. That’s got older generations who bought up such properties as their own little slice of paradise trying to blast their way out of the bunker in some areas of the country. So if… Read More
Categories: Blog, Generation Y / Millennials, Home Ownership, Real Estate
Another ridiculous fabricated reason millennials can’t afford to buy a house
Posted On August 10, 2018
In the digital age of social media white noise, media outlets make their money by attracting eyeballs. Two of the ways they try to do this are by jumping on popular topics and inventing new angles until they run them into the ground, and by using what we now commonly refer to as “clickbait” – misleading or sensationalized headlines that draw readers to click on a story that ultimately doesn’t deliver the shock that was promised. Today.com, the website of NBC’s Today Show, recently checked both these boxes with one post that took the stereotyping of millennials to a new… Read More
Categories: Generation Y / Millennials, Home Ownership
Millennial Home Ownership on the Rise
Posted On December 18, 2017
When we discuss the differences between generations, between millennials and Generation X and the Baby Boomers and iGen, it’s important to recognize that some traits or trends that may look like characteristics of a generation are really just characteristics of all people of a certain age. For instance, we may look at millennials and consider them impulsive, and there’s certainly data that would back up that assertion. But really, most all young people are impulsive. And so we have found that Baby Boomers switched jobs at an even greater rate than millennials when they were in their 20s. It’s with… Read More
Categories: Generation Y / Millennials, Home Ownership
After taking it on the chin for housing, Gen X finding it may be their turn
Posted On March 21, 2017
There’s a lot of attention paid to millennials in the marketplace, and with good reason – they’re the largest segment of consumers. That’s true for the housing market, as well, as the 18-to-34 demographic makes up 42 percent of residential home buyers, as pointed out by Zillow.com’s Jennifer Riner in a piece we shared several months ago. But Generation X is still an extremely important part of the real estate market. With a range from mid-30s to mid-50s, many younger Gen-Xers may still be looking to move up to a larger home as their families expand, while those Gen-Xers at… Read More
Categories: Generation X, Home Ownership
4 Trends of the Millennial Home Buyer
Posted On November 10, 2016
(Today’s post courtesy of Zillow.com who offered to share some of their home buying trends research.) By Jennifer Riner Young, urban professionals have a reputation for renting in the city. While this holds true for many, you might be surprised to learn that half of the current home buying market is under 36-years-old. Millennial home buyers between 18- to 34-years-old currently make up the biggest piece of the residential real estate pie at 42 percent. In the newly released Zillow Group Report on Consumer Housing Trends, the real estate experts and economists dove into the demographics of home buyers. Here’s… Read More
Categories: Generation Y / Millennials, Home Ownership
Retirement With Gobs of Debt – A Boomer Dilemma
Posted On October 4, 2016
How much debt are you carrying? Most of us have some credit card debt. Many of us also have mortgages or student loans. Some of us are also carrying debt from home equity loans or lines of credit. As we get older, the volume of debt we’re carrying becomes an exponentially greater threat to our retirement – particularly with the demise of pensions and private-sector retiree healthcare benefits. One might think Baby Boomers would be past some of this, having gone to college before tuition skyrocketed and having had plenty of time to pay off their homes. But while they… Read More
Categories: Baby Boomers, Home Ownership, Retirement
Exodus? Well, kinda. Millennials, suburbia, families, and stereotypes.
Posted On September 12, 2016
Part of the picture most of us tend to have about millennials is of an urban existence. Mass transit. Refurbished lofts. Biking to Starbucks for a Frappuccino or the local craft brewery for a beer. But is it an accurate picture? According to FiveThirtyEight.com, not so much. Citing data from the U.S. Census Bureau, FiveThirtyEight’s Jed Kolko notes that millennials ages 25-34 between the years of 2009-13 were actually slightly less likely to live in urban areas than 25- to 34-year-olds in 2000. While the percentage of college-educated millennials living in hyper-urban areas, those with the greatest population density, has… Read More
Categories: Generation Y / Millennials, Home Ownership
Top Cities for Millennials to Live Alone
Posted On September 7, 2016
(Today’s blog courtesy of Zillow.com. Thanks to Zillow for reaching out and offering this info. Good stuff.) By Jennifer Riner Less than 9 percent of Millennials live solo these days – a portion of the population that’s been in decline for the past few years. Because of unaffordable rents and rising home prices, a vast number of young people opt to live with family or friends to cut housing costs that might otherwise send them into the red zone. Between 2000 and 2013, the percentage of 23- to 34-year-olds living with family increased 46 percent. The no. 1 place… Read More
Categories: Generation Y / Millennials, Home Ownership, Real Estate
Millennial House Buying & Student Debt
Posted On August 3, 2016
When are those Millennials going to start buying homes? This is a question many of us – such as economists, policy-makers, realtors, and homebuilders – keep asking. It is a well-known fact that homeownership rates among younger Americans have declined over the last 10 years. For example, in 2004 around 43% of people under the age of 35 were homeowners. That has steadily declined, to the point where in 2015 only 35% of them are homeowners. Why the decline? Most analysts point to higher levels of student debt as the reason. In mid-July the White House jumped into the fray,… Read More
Categories: Generation Y / Millennials, Home Ownership
Millennials and homes – hurry up and flip
Posted On April 30, 2015
They’re upwardly mobile. They’re rootless. Sentimentality is not their thing. They’re attuned to current trends. And they have different goals and dreams than their parents. So it should be no surprise that Millennials often have different goals than previous generations when they go to buy a house — and it behooves the real estate market to recognize that. Citing the results of recent reports from the National Board of Realtors and the TD Bank Mortgage Service Index, Forbes Magazine notes that Millennials are the largest group of home-buyers in the country – 32 percent of the market – and more… Read More
Categories: Generation Y / Millennials, Home Ownership