Millennial Home Buyers
Real Estate around Seattle
Millennial Home Buyers: Pulte and Pew paint slightly different pictures.
According to a March 2014 press release, the PulteGroup, one of the nation’s largest homebuilders, “54 percent of millennials indicate the economy is better than a year ago. This optimism remains in line with the recent Pew Research indicating 49 percent of millennials say the country’s best days are ahead. With this increased confidence, nearly three-fourths (74 percent) of millennials view now as an excellent or good time to buy the things they want or need.”
Contrast that with other Pew Research data, such as an 8.2% unemployment rate for these potential millennial home buyers and Pulte’s forecast may be just a tad optimistic. Pulte says that 85% of the millennials will buy a home in the future. That future may be a few years down the road when one considers the heavy debt burden of many millennials. [Read more…]