The come back of Generation X in Real Estate

The come back of Generation X in Real Estate

Generation X (from age 37 to 51) a segment of home buyers that was described as the Lost Generation because many of them lost their houses when the Great Recession hit, as all we know many lost jobs and even more lost homes.

When the year 2008, thousands upon thousands bought homes. Many of those buyers just started families in the early to middle part of their careers.

Some of them went back to school for retraining as the economy is down. The average of Generation X member has a student debt more than $30,000 than his/her average counterpart in the Millennial generation which is $25,000.

But slowly, gently, a remarkable increase in home values gives the Generation X a comeback. From among thousands who lost homes are arising the million who did not. Those hardworking Gen X struggles to make their monthly house payments even in the toughest of times. More than 1 million more homeowners fought and get their way to positive equity in 2016.

After starter home tenures that have extend for 10 years or more, many of them finally have enough equity to sell and trade up – a great help to ease the inventory shortages in much of the country. And as is the norm, those who sell nearly always buy.

The main of their earning years – most with families, they’re ready for the four-bedroom, three-bath home with the hot tub now. Generation Xers collects a median $106,000 a year, the highest among all age groups.

Gen X purchases were up to 28 percent of all purchases in 2016, up from 26 percent in 2015. In 2017, they could threaten the Millennial’s 4-year hold on the largest percentage of home buyers.