The following update has been provided by Renee Kunz, office manager at Intero Real Estate in Hollister.
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!
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.
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?