“Let’s Talk Real Estate! “MILLENNIAL MIGRATION” September 12th, 2018
Lets Talk Real Estate!
Up until very recently, “millennials” (the generation of Americans aged about 18 to 34) have earned the reputation for being more occupied with their cell phones and social media than homeownership. Now, recent data reveals that millennials are moving out of their parents’ homes and migrating to the suburbs. In fact, millennials now account for the largest group of homebuyers (as the Baby Boomer parents were before them), and nearly half of them live in the suburbs. As this millennial relocation to the suburbs proceeds, there is likely to be a commensurate rise in demand for homes. Up until recently, millennials may have delayed marriage, childbearing, and homeownership, but they are expected to grow into these roles. Ever since the financial crisis, rents had been rising nationwide. However, it seems to have maxed out in many cities, and now, the rent vs. own analysis no longer favors becoming a tenant. In most instances, rents have caught up with buying, even for entry level properties. For more information, please give us a call. We look forward to meeting with you at our office. “OUR SUCCESS HAS BEEN BUILT ONE SATISIFIED CUSTOMER AT A TIME.”