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Millennial renting vs buying

Interview with Sherry Chris, president & CEO of Better Homes and Gardens on my AM1320 “Investment Golden Page” on ” Millennial renting vs buying”

I’m honored to have Sherry Chris on our show. Sherry is president and CEO of Better Homes and Gardens Real Estate LLC.

The Millennial Renting vs Buying real estate debate

Millennial homeowners are saddled with obstacles no previous generation has had to face, like an average student loan debt per borrower that’s both monstrous and unprecedented. They’re also less romantic about the whole process than their predecessors — buying before marriage, owning for shorter periods of time, and flipping with gusto and success.

Sherry, your company has done some research on Millennial home ownership trends.

1) What do you see the trend is going in the real estate market?

Last year, Millennials were blamed for a huge drop in home ownership. A combination of low income, high student debt, and a precarious job market meant that the home ownership rate dropped to 64.7 per cent according to the U.S. Census Bureau — the lowest level in nineteen years.

2)Do you think they just aren’t v interested in buying a house? Why? Do you see them prefer renting?

3) do you see they might drive down the housing prices and mortgage rates for everybody?

Millennials are also more civically conscious than preceding generations, which means that choosing the right chic, urban neighborhood is as important as choosing the right living space.  However, most urban neighborhood are quite expensive.
4) Do you see owning a detach house with large back yard is important to them anymore? or apartment living for a family is acceptable to them?
5) As a Realtor, how do we equip ourselves to service the Millennials? What does the Millennial buyers expect from us when they are able to find all info on line?  Do you see they prefer to go direct to the listing agent and don’t see any value to have a buyer’s agent?
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