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Insights On Generation Y

By John Novak

Real Estate Agent with Keller Williams Realty The Marketplace NV License # 56750

December 15, 2007 02:23 PM

I keep seeing more and more about the emergence of Generation Y and their impact on the economy. The following article and interview offer some further insights on Generation Y.

"The largest U.S. age group since the baby boom will make an unmistakable mark on the housing market," begins an article by Michelle Hofmann at REALTOR® Magazine Online. This comprehensive post offers some fascinating statistics about Gen Y (they buy their first home at age 26, according to a Century 21 survey) as well as tips on how to connect and work with them.

On InmanTV, Joel Burslem interviews Anastasia Goodstein from yPulse in a segment titled "Setting Your Sights on Gen Y Buyers". They talk about how the younger generation views real estate, as well as how lending and real estate professionals can connect with this demographic.

Estimates place Generation Y's numbers at over 70 million, which indicates they will play a significant role in our housing market for the next 10-15 years. What are you doing in 2008 to reach this demographic?

(Photo by debaird on Flickr. Used under Creative Commons License.)

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Marlene Bridges

Village Real Estate Services, Inc. - Laguna Hills, CA

Laguna Homes|Laguna Condos|Laguna Real Estate

First home at 26 - astonishing! Thanks for sharing this important information.

Dec 15, 2007 02:53 PM

eric manthey

Vid2r - Denver, CO

agents better be using video to appeal to this mass

Dec 15, 2007 02:58 PM

Cris Burlew

Beach & Luxury Realty, Inc. - Saint Pete Beach, FL

Broker ~ St Pete Beach FL Real Estate

This does make one think on how to cultivate this dynamic group. We need to go to where they are. They grew up with technology and are adept at using it and changing with it. Due to this, we need to be right there in front of them!

We also need to remember, these are children of the Baby Boomers. This group WILL ask for their parents input when making a decision and we all need to be aware of that. 2008 will be great!

Dec 15, 2007 03:02 PM

Jennifer Fivelsdal

JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY

Mid Hudson Valley real estate connection

John- This is a very important group with different expectation therefore we will have to learn how to best connect with them. Thanks for introducing YPULSE to me. I better work on my Facebook presence.

Dec 15, 2007 11:21 PM

Monika McGillicuddy

Berkshire Hathaway HomeServices Verani Realty - Hampstead, NH

Southern NH & the Seacoast Area

Thanks John. I teach a generations class so this is very timely information for me.

Dec 16, 2007 01:35 AM

Susan Trombley

Trombley Real Estate - Wake Forest, NC

Broker/Realtor, Raleigh, Cary, Wake Forest, Youngs

John we always need a new generation to keep us going. The problem is still getting them a credit score. If they were taught this earlier and could handle it early in life then we could sell more to them. But it seems that getting them a loan with a not so high interest rate is the issue here and loans from school and so forth and so on.

I myself have helped the young purchase new home and it is a blast I just wish it was easier for more of them to get into the buying side.

Dec 16, 2007 05:20 AM

Jem Woods

Keller Williams Realty - Marble Falls, TX - Marble Falls, TX

Marble Falls TX Real Estate

That's also why it's so important to keep up the blogs on sites like AR. They're pulling info from everywhere, including sites like Facebook and the likes. Thanks for the info! Peace!

Dec 19, 2007 06:59 AM

Insights On Generation Y

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