Those members of the Gen-Y generation are "motivated by experience," so the largest demographic in U.S. history will approach the housing market with a unique perspective, according to Cooltownstudios.com.
There were 83-85 million people born in the 1981-1989 timeframe, and post author Neil Takemoto reported that Gen-Y will move into apartments in a big way, even sharing apartments more than previous generations.
Notable about Gen-Yers from a housing standpoint:
• They don't have the money yet to buy a home.
• About 30% are unemployed.
• They have more school debt - $23,000 on average.
• They're delaying marriage.
When they do buy a home, it will be smaller. Why?
• Gen-Y will have small living experience.
• They can't afford "big."
• "It’s not about the dream home, but the dream neighborhood," Takemoto writes.
Back to Breaking News