Millennials: The Next Generation of Homeownership
Now that a large percentage of Generation X & Y-ers have started families and settled down into their homes, there’s a new generation rising up in the housing market: Millennials (persons born between 1979 & 1994). This tech-savvy group has generally opted to delay homeownership and instead pursue degrees & professional occupations while saving & living with parents or renting with friends. For years this demographic was underrepresented in homebuying stats & figures, but that trend is set to be reversed in 2015—with the onset of 2.75 million jobs.
"Roughly 42 percent of millennials say they want to buy a home in the next one to five years, compared to just 31 percent of Generation X, and by the end of 2015 millennials will become the largest home-buying age group. The lack of home-buying activity from millennials thus far is decidedly not because this generation isn't interested in homeownership, but instead because younger Americans have been delaying getting married and having children, two key drivers in the decision to buy that first home. As this generation matures, they will become a home-buying force to be reckoned with." --KCMFor 45+ years we've specialized in making the American Dream of homeownership a reality for first-time & novice homebuyers. Our numerous floor layouts are perfect for roommates, singles, families, & even empty-nesters. If you’re stuck in the renting runt or just ready to move-up into a well-planned Dragas Community, poke around dragas.com to see which neighborhood best suits your lifestyle!