CNBC’s Closing Bell, Shark Tank investor Kevin O’Leary, often referred to as “Mr. Wonderful,” said Millennials “don’t give a poo-poo about owning a house.” according to our research Mr. O’Leary’s comment couldn’t be further from the truth, you decide. Take a look at the data that we researched.
1.) A recent National Housing Market Survey conducted by Fannie Mae, stated:
“…data indicates that millennial renters today have as much desire to own a home as the general population of renters. According to NHS data, the substantial majority of renters age 25-34 say that owning makes more sense than renting from a financial perspective. A majority also agree that owning makes more sense than renting from a lifestyle perspective. The vast majority of millennial renters tell us they plan to own a home at some point in the future.
”2.) A recent Merrill Lynchreport found that 81% of Millennials agree that “homeownership is an important part of their personal American Dream”
3.) The most recent H.O.M.E. Survey explained that 85% of Americans ages 34 and under believe that “homeownership is a good financial decision”.
Kevin O’Leary might be a great white shark when it comes to investing in companies. However, he is just a small fish when understanding the residential real estate market and the buying habits of the millennial’s. Perhaps Mr. O’Leary and the #sharktank investors are so focused on the “deal” that they do not reach out to feel the sharp edge of the sword when it comes to the actual residential marketplace. The “American Dream” is still alive and well, even for the millennial’s.Incidentally the millennial generation is generally referred to children born between 1981 and 2004.
Have a real estate related question, we are here to help. We have been helping our friends and clients for over 30 years. Kedersha Group and Sotheby’s International Realty have the experience and local knowledge to help buyers find a home that meets their buying criteria and lifestyle. Buyers can be assured that they will have the latest active and sold inventory. the Kedersha Group feels that accurate data will help our clients get a fair market value. Sellers will find working with the Kedersha Group