Bank of America data shows that millennial homeownership is rising, and since this group prefers a fixer upper, there’s potential for lots of projects in the coming months, which could be a good thing for home improvement retailers like Home Depot and Lowe’s Cos.
But millennials aren’t looking for something brand new. Instead, 80% say they prefer an older home in need of work in order to save money. More than three-quarters of those who already own a home say they started a renovation project in the first 12 months after making the purchase, “meaning that the recent housing boom still has lasting benefits to renovation activity.”
After its fiscal first-quarter earnings announcement, Lowe’s Chief Executive Marvin Ellison told MarketWatch that he was still confident about the home improvement retailer’s future.
When it all tumbles...
I bought my first home when I was 27. I had to save for years to afford the down payment. My car was literally a $1500 hunk of junk and I spent on nothing for at least 5 years to save for it... no movies, no eating out, no books, CDs, magazines etc. Every penny in savings.
drboycewatkins1 _masterinvestor 19keys_ lets talk about it kings 👁️👂🧠 cryptominer stockholder $AMC amcape $RDBX shortsqueezer TRON $TRX $TLRY $GME $VDY pennystockholder JanJak_AMC Anti_NWO_Ok PanAfrikan1804 JolyMister El__tigrenegro
Yes renovate.
If they buy in the next two years, it’s looking like they’re gonna get a deeply discounted price on the first home. Thanks to the economy, inflation, high gas prices, etc.. as home prices are about to take a nosedive!
As if a millennial even knows the business end of a hammer
Bullshit.
More like THATS THE ONLY THING THEY CAN AFFORD if they wanna own!
'prefers' is doing A LOT of heavy lifting in this paragraph.
call me when GEN Z starts buying houses
Don’t think we necessarily “prefer” a fixer upper. It’s just all that’s left. The scraps of the market
prefer? maybe they're just broke and those fix-it uppers are the only properties within their budget.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TucsonStar - 🏆 339. / 59 Read more »