Millennials:Renters or Homeowners ?

By
Real Estate Agent with America's Network Realty Group, Inc

Millennials: Renters or Owners

Millennials: born from about 1980 to 2000 are they the home buyers of today? Not according to the latest opinions and stats.  It seems this generation is not looking to be tied down now, they want to have the flexibility of moving around locally, to other states and even other countries if a great job opportunity is offered to them.  Many are heavily in debt from obtaining their college education, and do not want to take on any additional debt.  Add to the mix the lack of jobs for the graduates in this age group.

 

Stats: from 2006-2011, 25-34 year olds experienced the largest decline in homeownship compared with any other age group.  Among households headed by 25-34 year olds, renters increased by more than a million from 2006 to 2011.  The number of homeowners in this age group fell nearly 1.4 million.*

 

Will Millennials turn their back on the “American Dream of Homeownership.”   I doubt it.  Homeownership is so much a part of the American culture.   Millennials  are just postponing it.

 

 

*USA Today Sept., 17,2013 Hadley Malcolm

 

 

 

 

 

 

Posted by

Susan Jackson, Associate Broker

Americas Network Realty Group, Inc

1532 Dunwoody Village Parkway

Atlanta, Georgia 30338

Office: 770-551-5850     Direct: 770-551-5852   Fax: 770-551-5866

Email: sjacksonhomes@gmail.com

Website: www.kstrealty.com

Americas Network Realty Group, Inc

Comments (3)

First Last name
Keller Williams Preffered - Raleigh, NC

Interesting !! and I agree they may be postingpoing until they feel more secure with the job market...many people are working now but are under-employed.

 

 

thanks for sharing.

Sep 23, 2013 07:54 AM
Joetta Fort
The DiGiorgio Group - Arvada, CO
Independent Broker, Homes Denver to Boulder

I wonder if our government removes the tax exemptions for homeownership expenses, if that will further erode the younger generation's desire to buy.

Sep 23, 2013 08:19 AM
Kerry L Klun, Broker/Owner
Palm Realty - Melbourne, FL
321-626-5868

Joetta, I think you make a good point here, and I DO think that if the tax exemptions are elimated that it will affect all segments of the buying population.

Sep 24, 2013 09:15 PM