• Baby Boomers and Millennials Crowd the Real Estate Market

    Posted on October 9, 2016 by in Real Estate News, Stats, Uncategorized

    If you are like most, you’re trying to predict the future so that you can invest wisely and plan accordingly. And if you want a glimpse of the future as it pertains to real estate, it helps to understand the generational demographics.

    Notice below that we have a lot of Baby Boomers and Millennials in this country, and that’s no surprise we talk about these two generations a lot. These two generations will have huge impacts on the demand for housing. Let’s break this down below…

    When it comes to Real Estate, the generational impacts are significant

    When it comes to Real Estate, the generational impacts are significant

    Baby Boomers Rush to Buy Homes

    The baby boomers want to downsize and that puts them in direct competition with the millennials who just want to buy their first home. They are also looking for one level homes that traditionally were considered started homes because of the smaller square footage.

    If current trends continue, the demand for housing will remain strong for years to come.

    If current trends continue, the demand for housing will remain strong for years to come.

    Baby boomers are also looking to buy second homes, vacation homes, rental homes, and investment properties that can be used for AirBNB type accommodations.

    Millennials eager to buy their own home

    The Millennials are breathtaking in their size. This chart was created in 2015, those aged 24 and 25 in 2015 are the largest group on the chart. These young adults have had to live with their parents longer because of the Great recession that started due to the financial crisis in 2007. As the economy has improved, so has their hopes for getting into a home of their own.

    We know that older millennials reassured experts who were skeptical that this generation would value home ownership. As the generation matures, we are going to need more homes.

    Don’t get left behind start your home search now.

    Search homes near you now, download the GPS app.

    Search homes near you now, download the GPS app.

You must be logged in to post a comment.

%d bloggers like this: