The following update has been provided by Renee Kunz, office manager at Intero Real Estate in Hollister.Â
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Recently the census bureau announced home ownership rates are rising on a national level. Take a look at these statistics provided by the census bureau. https://www.census.gov/housing/hvs/files/currenthvspress.pdf
Americans under the age of 35 was the largest group purchasing properties!
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How can this be? And what does it mean? It has been said that the Millennials are known for being the “renter” generation but I would say this could be happening because they are a very educated generation.
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As Millennials are aging, they are getting married- and home and marriage seem to go hand in hand. In addition, I believe they are realizing that home ownership can close the gap between struggling and being in good financial shape. Maybe living the American Dream by owning property is a goal for their generation too. This is just my opinion and I am curious what your opinion is. Why you think they are buying more property?
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