The Biggest Home buying Group For The Next Decade
Q: Gerald, I’ve been a buyer’s agent for many years. Where do you think I should re-focus my efforts for the future? Kenny, Bayonne, NJ
A: Millenials are finally buying homes–in terms of age they are the last generation to begin buying homes in a big way for obvious reasons including the global financial crisis, extraordinarily high school loan debt and the fact that real estate prices went
down for 5 straight years as they were entering the workforce. Millennials are going to be the biggest group of home purchasers for at least the next decade and they are now pushing the US homeownership rate higher–homeownership rate has skyrocketed almost a full percentage point in the last year which is a significant increase. Thanks for your question, Kenny.
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