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A survey noted that working a second job and moving in with the parents are some of the ways that Generations X and Y are willing to do to save for a home. Results of the study conducted by Better Homes and Gardens Real Estate among 18 to 35 year old Americans revealed that the respondents have become increasingly knowledgeable about homeownership due to the increased media coverage brought about by the housing crisis. The survey also noted that the young is not deterred from buying a home and believes that owning one is a key indicator of success. Furthermore, these future homeowners are willing to do their research and save in ways that may surprise those who believe the values of Gen X and Y have strayed from those of their elders.
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As it turns out, the Millennial Generation is not only optimistic about their employment opportunities, they are also knowledgeable, responsible, and savvy when it comes to real estate—characteristics that any property buyer or seller should embrace.
Every generation faces some economic hardships that define the way they see their financial future. The baby boomers faced an oil shortage crisis back in the 1970s. For Gen X and Y, it was the collapse of the housing sector more than five years ago. And the crisis led the Millennial Generation to believe that it takes a lot of planning and research to make a reliable home purchase.
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