Millennials are Helping Power This Year’s Housing-Market Rebound
We love posting about that elusive cohort known as the millennial generation. A recent Wall Street Journal article (reposted on Realtor.com) suggests that millennials, who have been viewed as a perennial renters, are now emerging as a “driving force” in the housing market’s recovery. Interestingly, they point out that, last year, millennials accounted for more than half of all new home loans and were consistently above that level in the first few months of 2020. Indeed…
“Millennials, they’re roaring into homebuying age,” said Rick Arvielo, chief executive of mortgage lender New American Funding. “What the industry’s been talking about for a decade is whether they’re going to follow their predecessor generations in terms of their desire to own homes,” he said, adding, “Yeah, they do—they have the same desires.”
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