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Home | Tag Archives: Millennials

Tag Archives: Millennials

Young People Buying Homes Earlier but for Similar Reasons

According to the second quarter Real Estate Sentiment Index, which polls industry professionals across the country to gain their unique insight about the future of the housing market, young people aged 26-30 are the number one demographic for first time home buyers. Their reasons? Financial investment and starting a family, which echoes past generations' reasons for becoming homeowners. Industry professionals are also confident in rising residential purchases, and in some states, price growth.

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Gen X Anxious and Fearful for Financial Future

Generation X, aged 28-52, have a worse financial outlook than any other group. Having lost nearly half their wealth after the housing market collapse, over a third of Gen-Xers believe we are headed for an inevitable financial crisis in the near future. “For this reason, many are paying down their mortgages to reduce payments and guard against possible foreclosure in a downturn,” said one industry expert.

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High Down Payments Alter Young Homebuyer Priorities

Many young homebuyers are more focused on personal achievements, such as dream jobs and travelling, than “traditional,” long term life milestones, such as marriage and parenthood. Shifting priorities along with high down payments and the amount of time required to save for these payments are among the reasons why millennials aren't quite settling yet.

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