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Despite belief that Millennials are urbanites, research shows they see suburbs as places to settle
July 21, 2011
Gen Y wants to own homes – in the ‘burbs
Generation Y, or the Millennial generation, wants to own homes – 64 percent of them say it is “very important” to them. Contrary to what many believe, most Millennials want to live in the suburbs, where the housing crisis is felt the most, according to the New Geography.
The challenge is opening the housing market to Millennials without reinstilling the unstable financial leverage that triggered the Great Recession. Millennials have borne much of the brunt of the economic crash and are aware of the importance of living within one’s means; like their grandparents and great-grandparents, Millennials are likely to be frugal and cautious home-buyers and won’t gravitate toward the McMansions.
For more information: www.newgeography.com/content/002343-are-millennials-solution-nation%E2%8...
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