According to PulteGroup, Inc., Millennials and members of Generation Y are viewing the economy in a very positive light—one that might mean more home sales in the future. Often seen as a rent-forever generation, the polling done shows the exact opposite is true.
Thanks to a release by DSNews, we have some information for you regarding this improvement. The economy—still lagging a bit but recovering steadily—is starting to move again and Millennials are starting to get back to work, though not at the numbers that they’d like. This movement back to work in a slow trickle means that there will soon be more people looking for homes, which means an increase in real estate and title insurance (along with the rest of that industry). And that’s real good news for those real estate agents who’ve been suffering with a slowdown.
If you haven’t been paying too much attention to their crisis (which is understandable since we’ve all been suffering through it), the jobless rate has been almost double that of the American average of unemployment—according to Reuters, at 16% as of December. This, in part, might have contributed to the idea of Millennials not wanting to own. Well, that’s changing now that jobs are starting to open up for them, and with that their attitude towards the economy. Now, it seems, is the time to buy thanks to low mortgage rates and a good amount of available homes.
So, while you might be worried about the economy (as you should) and you might be concerned for your future (also understandable), remember that there is a light at the end of the tunnel—and we can finally see it as it’s approaching. And thank goodness, because it feels like it’s been far too long in this slump for all of us.