Save time by listening to our audio articles as you multitaskTypically defined as those born between 1981 and 1996, millennials make up the largest generation ever in America. As more of them reach their peak buying years, they are becoming a force to be reckoned with in the property market. In America they represent the fastest-growing segment of buyers and have accounted for more than half of all mortgage applications over the past two years.
But the homebuying frenzy reflects more than millennials simply getting older. Following lockdowns and other sweeping changes to daily life during the pandemic, a growing number of millennials want larger family homes with more dedicated office space for remote work. Those who already own property are trading up for more space. This, in addition to stamp-duty tax cuts, helped push the number of first-time buyers in Britain to its highest level in nearly two decades in 2021.
Remote work is also opening up more affordable places to live. In America buyers are flocking to sunbelt hotspots, like Phoenix and Tampa. Zillow, a property firm, estimates that a typical renter in San Francisco would have to set aside 2.4% of their income for six or seven years to save enough for a 20% deposit on a starter home in Austin or Phoenix. For a similar property in San Francisco they would have to save for more than 70 years.
Housing is cyclical, fact is if owning your own home is your 1 goal you can achieve that in any economic situation. Unfortunately people want it all, and at times having it all is not possible.
Just like 2005.
Mortgage rate soars closer to 5% in its second huge jump this week
Also the old gen is not dying fast enough. At the same time overpopulation of the world is continuing at increased pace. Your country imports it excessively, thus overpopulating even second biggest country. Only Russia will stay normal. No immg/no excessive births. On its own
occupying Berlin was at the end, Stalin Gller became a turning point when large land of the Soviet Union had not been occupied. Now China Brain-Controllers are making Russia to occupy Kiev Firstly, that's destroying Russia!