Join Lauren Swigert as she describes the interesting dynamics of the millennial demographics aka “failure to launch” generation. A lot of different factors contribute to the market and these factors include interest rates, recessions, and employment rate. Because millennials came in right at the recessions at the age of when they ideally should’ve been moving out of the family home, they got compromised on two levels; a recession, and almost no job opportunities for college graduates. Without the means to afford a house, many millennials resorted to staying home in their mid to late 20’s instead of moving out and being independent.
Lauren even shares about a Berkeley graduate in economics who ended up with a job at Starbucks and couldn’t move out of the house until he was 30! Unfortunately, because the job market was so skim the options available for millennials were also slim.
Now that the economy is picking up, interest rates are below 4% and now its a good time to start hitting the market with purchasing property and investment. More options are opening up for the millennial generation after a seemingly long drought. So things are looking up!
Here is a link to the current data on 18-34 year old range of just starting to leave the house (because who doesn’t love data!)
For more information on Lauren Swigert please feel free to check out Lauren Swigert via following contact info.
Lauren Swigert BRE License# 01743386, Berkshire Hathaway Home Services.