Millennials get a lot of flack in today’s media. They are continually noted as lacking ambition, work ethic and most notably, refusing to move out of their parents’ homes.
Millennials and real estate
Millennials and real estate are not two words that we often hear paired together. In fact, it is almost an assumption that a millennial will only rent. When this generation began graduating college, the job market was shaky, and the economy was unconducive to their amassed debt and dreams of powerful, lucrative careers.
Only a minority of the infamous generation regard home ownership as one of the most important life achievements. Many of this group are focused instead on building ways to making a living, carving balanced lives and thinking intimately about when and how to raise a family.
Until recently, these trends have sounded alarms in the real estate industry, inundating the market instead of rental apartments and condominiums on every old neighborhood corner.
But slowly, we are seeing a transition back to the interest in owning a home. The understanding that eventually, home ownership is a necessity is growing prominent again.
Nearly a decade of post-subprime crisis, Arizona real estate offers a fertile housing market for millennials. Millennials understand the benefit of investing early and the flexibility of their purchases. This generation is better educated than any other and knows when and how to choose their long-term assets. A comprehensive understanding of mortgages and financing options has offered some level of comfort to the generation, reassuring them that a long-term investment is not necessarily a permanent one, but a potentially a transitory one.
If you are a millennial and looking for homes for sale in Phoenix AZ, there is no better team of real estate agents in Phoenix with which to work than at Jeff Barchi. We are dedicated to helping you find the home of your dreams and financing it in a way that still permits your lifestyle of choice.