Monday, December 17, 2012 / by Carlos J Higareda
Millennials Gaining Housing Confidence
The millennial generation has grown up during the years of the housing boom and ultimate bust. But the shakiness of the housing market over the years hasn’t deterred their will to buy.
Ninety-three percent of millennials, aged 18 to 34, say they plan to buy a home at some point, according to Trulia’s 2012 American Dream Survey. Forty-three percent of the generation are already home owners.
“Millennials have been shaken, not scarred by the housing bust,” says Jed Kolko, Trulia’s chief economist. “Nearly all of them want to own a home someday if they’re not home owners already. But many of them think today’s low prices and low mortgage rates will last. They may be in for sticker shock if the cost of home ownership has returned to normal levels by the time they’re ready to buy.”
Source: “Reminder: Millennials Want to Buy Homes!” HousingWire (Dec. 12, 2012)