Millennials are about to overtake Baby Boomers as the largest adult generation — and it could drastically alter the US housing market

Millennials are projected to overtake Baby Boomers as the largest living adult generation.

Americans have already begun to lean toward rentals, as softer construction activity and housing shortages price potential buyers out of the market. Home supply appears set to jump by more than two-thirds over the next 10 years, Morgan Stanley said in a new research note. But demand among generations Y and Z — which include those born between 1981 and 2012 — looks poised to edge just 7% higher over that period.according to population projections from the US Census Bureau"Gen Z + Y are more likely to rent than own, and the bulge in supply when the Baby Boomers sell looks to dampen net single-family demand," the analysts said.

"Home sales are set to tread water over the next couple of years, which is good news for the rental sector," Capital Economics economists Matthew Pointon and Andrew Burrell said in a research note."If Americans aren't buying homes, many will look to rent one instead."

They better learn to vote if they want housing in an environment that is habitable or there may not be housing.

Adult? Defined purely by elapsed time on earth.

Gen Xers be all...

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Millennials don't want to buy baby boomers' sprawling, multi-bedroom homes, and it's creating a major problem in the real-estate marketMillennials aren't buying large, elaborate houses built by baby boomers, leaving the homes to sit on the market and eventually sell at huge discounts. Isn't the narrative that millenials are broke anyways? Were 'roomates' just a Gen X thing? Most Millennials can't even afford to buy their own underwear.... When both partners have full time jobs, they don't want the 3rd job (the house). Nevermind the commute and the 20 minute drive to get to a Whole Foods... sadthatbefore
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »