http://www.marketwatch.com/story/how-inflation-may-force-millennials-to-reconsider-risk-2014-12-02
In class we've talked about the recent market crashes and the Great Recession, but we never have talked about how it may effect us. Many other articles have pointed out that millennials are buying houses later, but not any have linked it to the fact that we have lived through a housing market crash, and that economy is still recovering from the Great Recession.
The millennial mindset appears to be “why buy when you can rent?” Rather than settling down in suburban homes, young adults are fleeing to major metropolitan areas where they live in urban apartments. This is in part due to social changes. For a while, the concept of renting versus owning had a certain stigma attached to it. Nowadays, however, attitudes have changed and have become more accepting; people understand that for some, sorting out careers and finances takes priority over home ownership.
ReplyDeleteUnlike previous generations, millennials seem to have a higher willingness to move geographically. Moving and settling in a new place does not seem like something we wouldn't do if the opportunity is right. Unless we're settled in and have high job security or a family, it doesn't make a lot of sense for millenials to be buying homes as early as the previous generations did.
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