Having the Millennials becoming home buyers is paramount to the growth of the real estate market. This story comes form http://www.dailyfinance.com/ by Money talks news. They are basically saying that the the younger Millennials are entering the home buying market.
"Given that the young-adult population is expected to continue expanding rapidly during the second half of the decade, it would take only modest further improvements in home ownership rate trends for the number of young homeowners to return to growth."
Having them get into the market usually as 1st time home buyers is very important. That allows people to move up in price on there 2nd home. This helps build the market and equity positions on your real estate portfolio.
" If such a return to modest growth among young homeowners occurs, it could have several implications for the housing industry, the Fannie Mae report notes, including:
- Creating the need to adjust the size, type and geographic location of new housing construction.
- Expanding education and counseling efforts targeted at inexperienced homeowners.
- Stepping up efforts to provide services and technologies suitable for young homebuyers."
Having these new buyers and getting the upgrades they need for their lifestyle makes 2016 an exciting year to be in Real Estate. Brett Young 216-703-5740 Howard Hanna