Who Is Going To Lead Atlanta’s Real Estate Market Recovery?
The latest reports are predicting that Generation X will be in the forefront of the housing markets recovery. The generation is substantially smaller than those that have came before and after them (i.e. Baby Boomers and Gen Y) in fact they represent the smallest generation on record, however experts believe it’s the most mobile group because they are fully in the midst of their careers and have the most need to accommodate growing families. Also their numbers have been enlarged by a steady immigration. Over all they’re the most optimistic about a new home purchase with about 89 percent viewing this as a good time to get off the fence and buy a home.
On the other hand, Baby Boomers by contrast are more leery of the market and prefer to continue waiting for the market to get better; they are also delaying retirement which further results into decisions to delay downsizing into a smaller home.
Studies also show Gen Y will continue to delay home buying because opposite of Gen x they tend to be more concerned with cost efficiency and as a result they are opting to rent for some time before buying, which has spurred apartment market growth.
Overall Gen X conveys a more solid desire to move forward with purchasing and have knowledgeable opinions about the design features and what their new homes should include; also contrary to current building trends they desire larger homes and are more likely to go green.
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