A larger group than even the historic Baby Boomers – 87 million to 76 million – the Millennial generation is expected to become a huge force in the real estate market over the next decade. According to Harvard University’s Joint center for Housing Studies, the number of households in their 30s should increase by 2.7 million over the next 10 years which will certainly impact the demand for new housing.
Moreover, not only are the Millennials larger in size, they are also much more diverse with only 56 percent of the group being white. In fact, according to CNN today’s babies represent the first generation where whites make up 50 percent of the population.
Leave a Reply