Over the years there has been a lot of speculation about millennials and their trends and habits. This is an important topic for speculation simply because millennials take up a big part of the population, the workforce, and soon, the money across the country. Millennials have been named as the first generation to make less money than their parents, although that may be true, technology and innovation has allowed so many young people in their 20s and 30s to become extremely rich without getting an inheritance.
Millennials also entered the real estate market much later than their parents. Most millennials get married later and have children later, which could explain why they buy homes later as well. Millennials also witnessed some of the worst economic downturns in history and many believe that they are soured towards the idea of investing and owning property. This may be true for younger millennials or those who are low-income earnings, however, the highly educated ones who are beginning to take major roles in the US workforce see the value of owning property.
This week Bloomberg.com reported that Millennials are changing the luxury real estate market. Despite the stereotypical perceptions about millennials being slackers or not wanting to buy real estate and that they are stuck living with their parents, reports are showing that millennials are waiting to buy but when they do they buy multi-million dollar homes as their first time purchase. Previous generations bought a small starter home and upgraded, but millennials are breaking the pattern.
This is an extremely important trend to watch because the luxury home market will likely become more mainstream since millennials currently represent the largest share or home buyers in the US.
Are you planning to buy a luxury home in the near future? Do you have a big, beautiful property that you want to sell? Are you a millennial and wondering when is the right time for you? Are you an investor wondering if you should change your strategy? Amin Vali Real Estate Investment is an organization run by millennials who understand the value of property ownership and the urge to not only buy but also invest in luxury real estate.
Civil Engineer, MBA, Real Estate Agent
Amin Vali Real Estate Inc.
Persian Realtor,Persian Real Estate,
Cell phone: +1 (949)220-1000
Phone : +1(310)300-0011
Web : http://www.aminvali.com
E-mail : email@example.com
Realtor in Zutila Inc.
#larealtor #Ocrealtor #Irvinerealtor