A recent study indicates that millennials have more faith in a housing market rebound than any other age group. The study also shows that this real estate optimism declines with age, until, it seems, you’re a bitter old crone sitting on your porch saying, “This house ain’t worth a nickel, but it’s MINE!”
One theory for the lack of concern among Generation Y?
“There was a lot of negativity when all the problems in real estate were happening,” says Earl Lee, president and CEO of Prudential, “but this generation was either too young or too preoccupied with school at the time to notice.”
The hope is that their happy outlook will lead them to be interested in home ownership, thus spurring home sales, thus goosing the market. In which case their optimism would have been warranted. Circle of life, man.
• For Housing Confidence, Millennials Lead the Way [Realtor Mag]