Millennials approach real estate investment differently from the other generations. It’s easy to determine their preference by looking at where they put their money on - travel, wine, retail, a cup of coffee. They buy practical things and prefer open layout living spaces that are not bigger than what they would need. So, the question is, are Millennials really that far off from buying real estate?
Today, I talk about some updates on the Millennial generation - their buying power and capacity, and their general mindset regarding real estate investment. I also discuss some of the characteristics of Millennials that set them apart from the older generations and the reasons behind the statistics and survey results about Millennials and their spending choices.
Millennials aren’t going to compromise their experiences in exchange for a big mortgage.
In This Episode of Real Money Talks:
- Statistics of home buyers according to generation
- Rules of thumb for Millennials who want to invest in real estate
- What to do if the mortgage lender requires you to have a job
- Downsizing versus rightsizing
- Norms and statistics regarding money allocation
- Trends in transferring the family wealth from one generation to the next
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