Will Millennials save the housing market? 92 million strong and many still living at home and renting but will this change?
ByIf you want to see what baby boomers are buying, just watch the commercials on 60 Minutes. Between Viagra and Prostate commercials, you will also get ads on remote destination cruises. This is a much older audience that isn’t buying new homes. Many already own homes. Yet they bought during a time when the housing market was much more stable and less prone to the machinations of Wall Street. Now we are in the midst of a renter revolution and are witnessing the lowest homeownership rate in a generation. The baby boomer cohort is 77 million strong but the Millennial generation is 92 million strong. You would think that there would be plenty of fresh bodies to replace the Taco Tuesday baby boomers but it simply hasn’t materialized. Can Millennials save the housing market?…
