(Some) Millennials Are Buying Homes - Business - Contractor Talk

(Some) Millennials Are Buying Homes

 
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Old 07-23-2019, 01:46 PM   #1
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(Some) Millennials Are Buying Homes


https://www.builderonline.com/money/...ign=BP_072319&

(MARRIED, AFFLUENT) MILLENNIALS ARE BUYING HOMES

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According to Laurie Goodman, co-director of the Housing Finance Policy Center at the Urban Institute, millennials are indeed buying homes – under the right social and economic circumstances, marriage in particular.

https://www.forbes.com/sites/samanth.../#4e63de504504

Brad and Jami were among the 37% of people ages 25 to 34 who owned homes as of the end of 2015 (the most recent data analyzed by housing finance researchers at the Urban Institute). All told, about 7.6 million Millennials owned homes in the United States in 2015.

That’s right, the Millennial homeowner is not some one-in-a-billion, mythical unicorn. Under the right social and economic conditions, today’s twenty- and thirty-somethings are buying, particularly as they get married and start families.

“I view it a lot like the idea of going to college after high school,” says Brad, now 32 and working in the mortgage industry. “It was just kind of the thing you do next. All my friends own homes.”
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Old 07-25-2019, 08:49 AM   #2
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Re: (Some) Millennials Are Buying Homes


https://www.marketwatch.com/story/th...try-2019-07-24

This city has the No. 1 most stable housing market in the country
Published: July 25, 2019 9:07 a.m. ET

For the fifth year in a row, Boulder ranked as the best housing market nationwide based on home price growth and stability, according to a new report from SmartAsset.

The odds of a major drop in home prices in Boulder were 0% — and properties in the city have increased 268% in price since 1994. Boulder was one of three Colorado cities to rank among the Top 10 most stable markets, along with Fort Collins (No. 4) and Denver (No. 8). Texas also had three cities at the top: Midland (No. 2), Austin (No. 3) and Houston (No. 9).

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Old 07-25-2019, 11:46 AM   #3
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I have no idea why anyone would want to live in Austin

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Old 07-25-2019, 06:05 PM   #4
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I have no idea why anyone would want to live in Austin

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Old 07-25-2019, 09:27 PM   #5
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Old 08-21-2019, 05:41 PM   #6
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https://www.theoaklandpress.com/news...e733d41c0.html

According to the Home Builders Association of Southeast Michigan, 22 municipalities had at least 20 single-family home permits issued through this time last year. In 2019, only 13 communities have at least 20 permits issued.

Of those 22 municipalities, 20 have seen a decrease in the number of permits issued compared to 2018 with Novi (+39 percent) and Independence Township (+23 percent) being the exceptions. The remaining 20 municipalities are down a collective 44 percent over last year.

According to Realcomp, the number of county homes for sale dropped 12.6 percent from 5,269 homes in July 2018 to 4,603 homes last month. With inventory low, sale prices have continued to climb. Compared to July 2018, the average sales price jumped 6.4 percent from $320,555 in July 2018 to $341,112 last month.

Through July, a total of 1,666 single-family home permits had been issued this year across the county with Troy (422), West Bloomfield Township (205), Orion Township (179), Novi (162), and Oakland Township (108) having the most. Of the 1,076 permits issued in those five communities, 816 were rental units.
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Old 08-24-2019, 09:42 AM   #7
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Re: (Some) Millennials Are Buying Homes


The wife and I (mid twenties) bought a house back in May. I never would have bought it on my own.

Lots of young homeowners around my area. Average age is 31. Living in an oilfield town probably skews that a bit though.
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Old 08-24-2019, 08:12 PM   #8
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Seems to me Millennials need to get their stuff in order to take part of the potential match...

Baby Boomers Are Leaving Behind A Trail Of Luxury Ranches

Mortgage Market Reopens To Risky Borrowers
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Old 08-26-2019, 02:49 PM   #9
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“Boomers own the houses and bar municipalities from building more of them, thus benefiting from rising prices and soaking up endless rent checks forked over by younger and poorer families.”


https://www.theatlantic.com/ideas/ar...ession/596728/
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Old 08-26-2019, 02:59 PM   #10
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“Boomers own the houses and bar municipalities from building more of them, thus benefiting from rising prices and soaking up endless rent checks forked over by younger and poorer families.”


https://www.theatlantic.com/ideas/ar...ession/596728/
I agree with this.

NIMBY gone wild....
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Old 08-26-2019, 03:44 PM   #11
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I agree with this.

NIMBY gone wild....
Big time. Last time I was at a twp office some crusty old dude was freaking out about a rumor of a development by his condo fer Christ sake.
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Old 08-28-2019, 12:21 PM   #12
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Re: (Some) Millennials Are Buying Homes


I'm a millenial (just barely) I own 2 properties. Killing it.

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