Cassette’s Post

Overview: Understanding millennial dynamics is crucial for home builders, given their large influence on the housing market’s performance. Zonda recently completed its seventh annual millennial survey. The results provide detailed insight into the minds of the largest living generation as they think about buying, renting, and all things housing. Read the drill down here... #Millennialls #Millenniallhomebuyers #homebuilding #homebuilders #residentialconstruction #newhomeconstruction #newbuilds #homesales #newhomesales #firsttimehomebuyers #buyingahome #buyinganewhome #homepurchase #newhomepurchase #buyerdemographics #homeownership #householdformation #americandream #homeaffordability #homeattainability #mortgagerates #mortgageinterestrates #mortgageapplications #housing #housingmarket #housingmarketupdates #housingindustry #housingnews #housingshortage #housingforecast #housingprices #homeprices #studentloandebt #debttoincomeratio

Did you know that: • 40% of Millennial renter households contain kids under age 18 • 34% of households in single-family rentals are multigenerational families • Renting among older adults increased by 32% between 2010 and 2020 If housing providers aren't yet seeing a shift in the kind of renters who live in their properties, they likely will soon. Anticipating these changes is key to attracting and retaining great residents in 2024 and beyond. Learn all about current trends in renter demographics (and why the average property manager should care) in my latest blog post: https://lnkd.in/ekc_DfK9 #renterdemographics #rentalmarket #propertymanagement #rentalhousing #propertymanagers

The typical recent home buyer/seller is 60 years old 70% of buyers have no children living w/them 40% of houses are owned free-and-clear First-time homebuyers make up 32% of transactions (avg is 38%) How demographics are shaping the housing market: https://lnkd.in/g74udt4t

Overview: Bucking the time-honored tradition of “flying the nest”, an astounding 68% of young Gen Z adults are choosing familial confines as opposed to independent living, thus weaving a complex narrative of economic, social and familial ties in modern America. What’s more, Millennials aren’t far behind with 20% still residing in their parental homes. But, what does this mean for our society, economy and the individuals involved? #GenZ #Millennials #movinghouse #homeownership #firsttimebuyers #firsttimehomebuyers #americandream #householdformation #homeaffordability #homeattainability #mortgageinterestrates #mortgageapplications #buyingahome #homepurchase #multigenerational #multigenerationalliving #homebuyerdemographics

How will demographics shape housing demand and supply dynamics in the coming years? Check out this article to learn the answer. 📚 #chicagotitlegeorgia #titleinsurance #titlecompany #georgiarealestate #commonwealthlandtitle

The talk of Millennials and homeownership has often been on the lips and fingertips of economists and researchers lately. NAR Researchers say, "When looking at the Census homeownership rate data, there have been positive reports that the rate improved for those under 35. This is true. From 2021 to 2022, the homeownership rate did improve. However, if one compares the homeownership rate from 1982 to today and then separates the data by generation, it tells a less positive story. For baby boomers and Gen Xers, the average homeownership rate for those under 35 was 39.7%. There has yet to be a year that millennials have reached that number." What are your thoughts on this? 

Zillow posted a blog a couple of years ago saying that all the Boomers were going to die and leave a tsunami of old houses. They aren't all going to die at the same day. Given the 2019 data of 71.9 Boomers, that leaves 20 million left at the end of 2035. We can follow data, but people are living longer and healthier every year. Peter Diamandis believes that people can extend their lifespan by decades with healthier living. Boomers aren't our parents' generation, we're better informed, don't trust big pharma, and many have turned to functional medicine. We won't know until we get to 2035 if data is anywhere close. Before the Recession, forecasters believed that people moved on the average of every 5-7 years. Post Recession they said it was 10 years without taking either fallout from the Recession into consideration, or the data that showed 38% of homes across the country are free and clear of a mortgage. 80% of the elderly want to 'age in place,' and only 10% go into assisted living. One set of numbers doesn't tell the whole story.

For those of you who are older than 50, remember, the 1970s when elementary schools were closing and turned into community centers as families trended towards one to three children instead of 4 to 6 per household? That same trend is going to happen with housing. The boomer generation is the largest demographically, and as that generation heads into the phase of life where they sell their homes because they’ve died, moved to a nursing home, moved in with family. We will see a boost to housing supply. This won’t happen for another 7 to 15 years, but it is coming.

Millennials in America have hit a significant milestone according to the latest data from the U.S. Census Bureau: a homeownership rate of 51.5%. While it’s true that more millennials own homes now than ever before, where you buy a house can make or break whether you’ll be able to afford to keep it, especially coming from a generation that came of age during the financial crisis. https://lnkd.in/ePzdevvY