There’s a hot market developing with the potential to flip houses to the Millennial Generation (also known as Generation Y). There is no absolute consensus of the exact age range for this generation but generally it is children born between 1982 and 2002. This constitutes about 82 million people that have completed or will soon complete high school to either enter the work force or go on to college. This is your next wave of first time buyers and they are different from previous generations of first time buyers.
The economic melt down saw many from this generation continue living in the lap of luxury of their parent’s home instead of starting their own households. Census statistics back this up. Of people between the ages of 25 and 34, only 41% owned their own home in 2012. That is well below the 46% homeownership for this age range in 1982 and significantly below the high of 49% in 2002.
Flipping to Millennials
This built up potential market of first time buyers is likely to start entering the market as the recession fades into the background and these people not only become employed but also begin …read more