Skip To Content

The Next Generation of Home Ownership Is Right Now

Odetta Kushi, Deputy Chief Economist at First American agrees, saying:

“Millennials now have the greatest influence on the housing market and remain poised to fuel a ‘roaring 20’s’ of homeownership demand.”

“The generation that supposedly didn’t want to buy things now accounts for over half of all home-purchase loan applications; economists expect them to bolster demand for years.”

“With nearly three-quarters of those surveyed preferring to buy versus renting long-term, the housing industry should be prepared for millions of Gen Z buyers to bring a new wave of demand along a similar stage-of-life timeline as the millennial generation before them.”

Generation Ages: Millennials: 26-41 Gen Z: Under 25

“Demand is very strong because the biggest demographic cohort in history is moving through the household-formation and peak home-buying stages of its life cycle.”

Odetta Kushi continues follow the trend of millennial homeownership and puts it more simply, saying:

“. . . it’s clear that younger households (millennials!) are driving homeownership growth.”

“Locally, we are also seeing an upward trend of millennial/Gen Z first time homebuyers. There are multiple factors contributing to why this is happening: home affordability, employment opportunities, flexibility to work remotely, local tax rates, and preference for open spaces”.

Bottom Line

Brick & Corbett

Trackback from your site.

Leave a Reply