Millennials predicted to eclipse Gen-Xers in real estate market (click here)
REGION — Zillow has an unsettling prediction for landlords cashing in on the millennial market this year: The selfie generation is poised to overtake Generation X as the largest group of home-buyers in the United States.
Millennials are loosely defined as anyone born between 1982 and 2000. Amid rising rent and personal financial stability, more of these young adults are opting to take on a mortgage payment as an affordable alternative to leasing.
Dane Moeggenberg, 27, is part of that trend. Having purchased his first home with his girlfriend Nicole in January, Moeggenberg said continuing to rent was no longer a feasible option in his budget — at least in Traverse City....
Millennials are stuck in rental housing and business ventures. They are paying debt from educational loans with low wage incomes if they can't find employment in their chosen careers. They are having a difficult time breaking out of renting and into houses with both the down payment and/or the monthly mortgage.
I would never say it is a generational problem if the statistics didn't indicate the sales of homes are slow while young couples are struggling to find the ability to purchase their first home and/or their business residence.
