April 3, 2014 12:51 pm
Millennials have become an important topic of discussion for media outlets and blogs throughout the Country. While some argue that my generation is blossoming later than our predecessors, optimists such as myself believe that with our rebounding economy will help Millennials finally arrive in the economic arena that allows them the growth potential generations before us were afforded.
While I truly believe Millennials are positioned to become an important force in the new economy, the widening economic policy that minimizes retirement accounts and creates underemployment of Millennials threatens what is now America’s largest demographic.
In his post for MSN
, Austin Thompson points out that Millennials are now in peak childbearing age, and from a Real Estate, as well as a parental Standpoint, what goes hand in hand with raising a family is the desire to own a home.
April 2, 2014 12:42 pm
Nielsen recently released their report “Millennials – Breaking the Myths
” and today I want to focus on the information reported about Hispanic Millennials
Of the 77 million Millennials, 19% are Hispanic.
This group (age 18-36) is the most racially and ethnically diverse than any previous generation. According to this report, Nielsen expects the Hispanic population to grow by 167% by 2050.
Millennials are 14% first generation, and 12% second generation Americans, keeping strong ties to their home country, culture and language. For example:
1. 63% of the Millennials feel it is their responsibility to care for an elderly parent, according to Nielsen: “this is partially tied to the ethnic diversity of the generation. Typically ‘Hispanic and Asian Americans’ have cultural expectations that elderly family members will be cared for by the younger generations.”
This can help you to understand why when a Hispanic Millennial is looking for a home, they are requesting that extra bedroom.
April 1, 2014 12:30 pm
We have often gone against the grain to promote the fact that Millennials have a stronger belief in homeownership
than previous generations. Some have strongly disagreed. Well, a new study from the National Association of Realtors
(NAR) found Millennials now account for the greatest market share of recent home purchases.
NAR’s Home Buyer and Seller Generational Trends Study for 2014
, revealed that Millennials comprised 31 percent of recent purchases, leading all other age groups. Here are the percentages for other generations:
- 30% - Generation X
- 30% - Boomer Generation
- 9% - Silent Generation
NAR chief economist Lawrence Yun explained:
“Given that Millennials are the largest generation in history after the baby boomers, it means there is a potential for strong underlying demand. Moreover, their aspiration and the long-term investment aspect to owning a home remain solid among young people.”