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…Recovery: Highlights from the 2015 ULI Conference 10/27/15 CRS Nevada 4 Myths Millennials Want You to Stop Believing 10/26/15 JLS Partner Connection 4 Myths Millennials Want You to Stop Believing 10/26/15 Realtor Mag 4 Myths Millennials Want You to Stop Believing 10/26/15 Builder Online Millennial Home Buyer: Facts vs. Fiction 10/26/15 Business Insider How the housing markets of the two World Series cities compare 10/26/15 Florida Realtors…

The Millennial Perception of Homeownership

…with three millennials from John Burns Real Estate Consulting on their generation’s perception of the housing market.   Conversation highlights include: The biggest obstacles for millennial homeownership Debunking some millennial stereotypes Millennial view on renting and living at home New vs. Resale for millennials The importance of location for a millennial’s first home Millennial preferences in a new home and community  …

Inside the Mind of a Millennial

…ng renters want to own a home as much as their parents did2, and this is evidenced by the slight lift from this group thus far in 2015’s selling season. However, we believe the majority of Millennials will buy homes later in life than their parents did, as they get their bearings financially, emotionally, and socially. 1Millennials are individuals born from the early 1980s to the early 2000s. We are using “first-time buyers” and…

Unique Perspectives from Taylor Morrison’s CEO

…s, and even McMansions on golf courses. Affluent millennials, many of whom could qualify for a much more expensive home or the same home if mortgage rates rose all the way to 7%. She noted that 56% of Taylor Morrison’s older millennial buyers (the group born in the 1980s we call The Sharers) are already buying their second home. Even 28% of their younger millennial buyers are already buying their second home. Since they are planning on families,…

Advice for Marketing to Millennials

…ant a personal connection to walk them through the process of buying their first home. Nearly half of millennials plan on using a real estate agent for the new home buying process. Value Matters—a Lot Value is at the core of millennial purchase. A JD Power survey showed that value for money is king. Millennials are 2x more likely to purchase a home with smart home technology that is a good value, especially if it: Enhances their life Helps their…

Demographic Shifts: Two Years Later

…y decade born, giving us much more clarity on the generational shifts occurring in America. The terms baby boomers, Gen X, and millennials make sense when describing decades long shifts in birth rates. However, a 31-year-old millennial father and a 16-year-old millennial high school student share little in common. Retired 70-year-old baby boomer grandparents collecting social security and 52-year-old baby boomers struggling to save enough money…

Affluent Apartment Renters Slow to Buy a Home

Categories: Rental Housing

On an almost-daily basis, we hear the question: When will the millennial / first-time buyer emerge? While predicting the behavior of a cohort still recovering from high levels of unemployment and a record amount of student loan debt can be tricky, the response of some of the largest apartment REIT operators is an unhesitating no time soon. When your apartment lease expires, you have two choices: to renew or move out. Each quarter we track the…

New Home Insights Podcast Episode 3

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Episode 3: The Millennial Perception of Homeownership For episode 3 of our New Home Insights Podcast, Dean talks with three millennials from John Burns Real Estate Consulting on their generation’s perception of the housing market.   Featured Guests Kate Seabaugh, Research Manager, John Burns Real Estate Consulting Kate monitors economic and housing data to forecast single-family and multifamily markets on metro, regional, and national…

The Biggest Checkbook in Home Building

…dy control more than 80% of the lots they need to meet their 5-year business plan.   Big Sweeping Changes in the Next 10 Years I would normally stop here, but Adrian had so much insight to share! Here are a few nuggets: Millennial consumers: Millennials will embrace the disruption of the home building industry, seeking better value, convenience, and transparency. The boomer and Gen-X populations will embrace disruption as well when they…

A 5-Year Delay in Homeownership, Other Big Shifts

Generational definitions of millennial tend to be too broad. As our company’s housing demographer, I am responsible for bringing clarity on these categories to our clients. Here are two great charts and five interesting conclusions on household formation and homeownership today. Household formation rises an average of 5.4% per year during your 20s. 13% of 20-year-olds head a household today, compared to 67% of 30-year-olds and 79% of…