This is something I am trying to wrap my head around – what will the millenials’ mobility mean to homeownership?
Short answer to the question: I don’t know how millennials are going to affect the real estate market, but I know that they are going to cause a tectonic shift in our society, specifically:
Millennials’ roots will be different than previous generations; their roots will be electronic, rather than physical. Am I wrong?
Have a look at this chart: Generations 2010: Trends in online activities
Millenial’s mobility is going to affect everything – the homeownership rate, the type of home, the location …. will they buy? If they do, will they buy rural or urban? Big or small? New or old?
And then there’s this – 33% of Americans between the ages of 15-24 have smartphones. I’ll bet that 33% is at least 50% in two years.