Think again. They have nothing on reluctant thirty-somethings.
Much of America is probably tired of articles about generational battles. After all, life is an individual experience, and in every age category there is always someone willing to buy a home or sell a home.
But from an economic standpoint, today’s environment makes it almost essential for real estate agents and lenders to know what’s happening within each individual age cohort. Household formation is very personal and humans generally follow predictable patterns, such as first job, first house and then the launch of a family.
For years now, everyone has been blaming the Millennials for stalling the housing recovery because of their reluctance or inability to purchase a home, but it may be the cohort right before them – the generational cuspers, or those born from 1978 to 1982 – who started this trend. This age group now has the lowest homeownership rate in decades. They’re best defined as not quite Gen-X, not really Millennials, but stuck somewhere in between.
Read the full report here.
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