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Tag Archives: Millennials

Economic Woes Cited By Parents of Home Bound Millennials

Experts have surveyed the young generation again and again as to why they are staying with their parents, but now Fannie Mae has completed a survey of the parents they live with. As it turns out, more than half of them don't mind their children living at home.

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Millennials are Heading to Suburbia

Analyzing data from the United States Census, Trulia's chief economist Jed Kolko found that the population growth of millennials in big, dense cities was outpaced by big-city suburbs and lower-density cities. Kolko also found that baby boomer growth in big, dense cities also fell short of growth in the big-city suburbs.

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Harvard: Housing Recovery Hinges on Millennial Participation

Millennials are so hot right now. Advertisers spend sleepless nights wondering how to associate this “cool” generation with their products and services. In their annual “State of the Nation’s Housing” report, the Joint Center for Housing Studies of Harvard University suggested that participation in the housing market from the segment of the population age 18 to 34 is also the key to a robust housing recovery.

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Mortgages Suffer from Misconception about Down Payments

There's a pervasive view held by younger consumers when considering whether to purchase a home or not, according to Freddie Mac's Christina Boyle. She believes that consumers persistently overestimate the size of a down payment they need in order to finance a home, and this lack of education is harming the housing market.

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Millennials Use ‘Bank of Mom and Dad’ for Down Payment Help

According to a consumer survey conducted by Trulia, 60 percent of American adults age 18–34 say a lack of savings, poor credit, and severe debt stand between them and homeownership. As a result, 50 percent would have to ask for help from their parents or grandparents to put together enough money to clear the initial hurdle of making a down payment.

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Young Buyers Positively View Economy

According to the latest Home Index Survey released by PulteGroup, Inc., out of more than 1,000 consumers surveyed in February, a combined 74 percent feel the economy is either better off (41 percent) or the same (33 percent) as it was this time last year.

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Millennials Grab Greatest Market Share of Home Purchases

According to the National Association of Realtor's Home Buyer and Seller Generational Trends study for 2014, Millennials—aka “Generation Y” or “Generation Next”—comprised 31 percent of recent purchases, leading all other age groups. Following that were Generation X (defined as those born between 1965 and 1979), which made up 30 percent.

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