Who said that the younger generation is scared of commitment? Because it's simply not true…for the real estate industry, at least. According to a new survey
of about 5,000 potential buyers and sellers, 77 percent of those between the ages of 25-34 and 78 percent of those aged 35 to 44 rate home ownership as “very important.” Younger Americans place home ownership at a high level of importance, as it represents stability, safety and control over space. The major cause behind this seemingly unexpected optimism is that fact that this particular age group slide by
the harsh effects of the recession. “Millennials and Generation X — about 85 million people strong — face a unique opportunity in U.S. housing,” says Earl Lee, president of Prudential Real Estate. “They are generally optimistic about home ownership and, by nature, share a strong sense of community. As important, many were not impacted by the real estate downturn and are looking at today’s buying opportunities with keen interest.” According to this survey, seventy-four percent believe that historically low interest rates make it the best time for them to purchase a home.