{"id":19492,"date":"2021-10-06T12:52:25","date_gmt":"2021-10-06T12:52:25","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19492"},"modified":"2021-10-06T12:52:25","modified_gmt":"2021-10-06T12:52:25","slug":"ideas-about-millennial-homeowners-that-never-came-true","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/ideas-about-millennial-homeowners-that-never-came-true\/","title":{"rendered":"Ideas About Millennial Homeowners That Never Came True"},"content":{"rendered":"

Ideas About Millennial Homeowners That Never Came True<\/h1>\n
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Millennials have been a closely watched group in real estate for years, and forecasters have long made predictions about their entrance into homeownership. The beliefs about this massive segment of potential buyers have been significant\u2014they favor renting over buying, they just want to live in the city, and they must have their parents\u2019 help to buy.<\/p>\n

Jessica Lautz, vice president of demographics and behavioral insights at the National Association of REALTORS\u00ae, recently blogged about the most common myths about millennials at the association\u2019s blog. Here are some myths she busted:<\/p>\n

Myth 1: Millennials aren\u2019t interested in homeownership.<\/strong><\/p>\n

The homeownership rate for those under the age of 35 is lower than previous generations at the same age. However, millennials are still active in the housing market. They are facing plenty of challenges in obtaining homeownership: low housing inventories, competition, and rising home prices. But they are the largest generation of home buyers currently in the market at 37%, Lautz notes.<\/p>\n

Myth 2: Millennials just want to live in the city.<\/strong><\/p>\n

Millennials love the suburbs after all. The majority of older and younger millennials have purchased a home in the suburbs; one-fifth of these young adults purchased in small towns, Lautz says. \u201cThe affordability of suburban areas is a driver,\u201d Lautz noes. \u201cYounger millennial buyers place a top priority on being close to friends and family while purchasing.\u201d<\/p>\n

Myth 3: Millennials need parents\u2019 funds to buy.<\/strong><\/p>\n

The majority of millennials use their own savings to buy. Nearly a third of older millennials use proceeds from their previous home sale as a down payment on their next home. But millennials aren\u2019t shy about accepting some help from their parents either: Twenty percent of millennials ages 31 to 40 and 28% between 22 to 30 report receiving a gift\u00a0or loan from family and friends to purchase a home, Lautz notes.<\/p>\n

Myth 4: If millennials would save more, they could buy.<\/strong><\/p>\n

Millennials have been hit with a lot of bills\u2014housing in particular. The costs of rents have surged and that\u2019s made it difficult to afford homeownership. \u201cYounger millennials are spending more on housing, education, and slightly more on health care,\u201d Lautz notes. \u201cYounger boomers, in comparison, spent more on transportation, food away from home, apparel and services, and entertainment.\u201d<\/p>\n

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Source:<\/div>\n
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\u201cMyth-Busting Millennial Tropes: 8 Common Myths Busted<\/a>,\u201d National Association of REALTORS\u00ae Economists\u2019 Outlook blog (Sept. 29, 2021)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Ideas About Millennial Homeowners That Never Came True Millennials have been a closely watched group in real estate for years, and forecasters have long made predictions about their entrance into homeownership. The beliefs about this massive segment of potential buyers have been significant\u2014they favor renting over buying, they just want to live in the city, … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-19492","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nIdeas About Millennial Homeowners That Never Came True - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/ideas-about-millennial-homeowners-that-never-came-true\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/ideas-about-millennial-homeowners-that-never-came-true\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/ideas-about-millennial-homeowners-that-never-came-true\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Ideas About Millennial Homeowners That Never Came True\",\"datePublished\":\"2021-10-06T12:52:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/ideas-about-millennial-homeowners-that-never-came-true\\\/\"},\"wordCount\":409,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/ideas-about-millennial-homeowners-that-never-came-true\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/magazine.realtor\\\/sites\\\/default\\\/files\\\/styles\\\/asset_image_full_content\\\/public\\\/assets\\\/images\\\/2110_millennials.png?itok=w_euhLYc\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/ideas-about-millennial-homeowners-that-never-came-true\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/ideas-about-millennial-homeowners-that-never-came-true\\\/\",\"name\":\"Ideas About Millennial Homeowners That Never Came True - 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