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We Want to Know Wednesday: What Is The State Of The Market For Millennials?

July 24, 2013  |  by Ellen

Two articles were published last week about millennials—one stating that the economy has caused them to be late starters into buying their first home and the other saying that more millennials than ever are buying homes over a million dollars.

It seems unlikely that both could be possible until you dig into the numbers. The size of Generation Y is big enough to cover both ends of the spectrum so those with hefty student loans holding them back are making just as much of an impact on the market as the ones who have parents helping them with the down payment.

While one of these articles did quote local DC agent Michael Rankin of TTR/Sotheby’s, neither one focused too much on specific markets. We want to hear from those of you at the frontlines of our local real estate landscape. Are you seeing more millennials buying pricey real estate, or do you find they’re still hesitant to take the first step on to the property ladder?

Let us know how things look from your perspective in the comments.

Posted in Blog, Industry News, Market Statistics, We Want to Know Wednesday

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One response to “We Want to Know Wednesday: What Is The State Of The Market For Millennials?”

  1. Still hesitant on the first step. We have less first time buyers today than we ever had. Student loans, lack of full time employment and people still left with a lot of uncertainty. Yes rates are terrific but as long as there is doubt in peoples' future of jobs and full time employment once out of school, it makes it very difficult for this generation. I see the middle class dwindling downward which has been, based on my 30 years of experience, the group of buyers to get us all rolling toward new home ownership. It is a domino effect.

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