Generation Y Buyers

Numerous buyers are delaying a decision to purchase a home because of the economy and the unpredictability of the current real estate market. But it seems it is the Generation Y population delaying more than most.

Generation Y people as described by Wikipedia:

Generation Y, also known as the Millennial Generation (or Millennials), Generation Next, Net Generation, or Echo Boomers, describes the demographic cohort following Generation X. There are no precise dates for when the Millennial generation starts and ends, and commentators have used birth dates ranging somewhere from the mid-1970s to the early 2000s.

So does this generation really want to own homes?

The short answer is yes. In a survey completed by Trulia it showed people between the ages of 18-34 still believe in the idea of home ownership. As much as 65% of those surveyed said owning a home is in their future.

Until the economy and real estate markets improve, many in this generation are living with family. But, buying a home will be in their near future.

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