When it comes to recent news about Millennials and housing, most of it has been about how recent grads have been living at home with their parents due to the weak economy, the student loans people are facing, and lending standards that make it impossible to get the money needed for a down-payment on a house or apartment. However as the economy strengthens and these obstacles begin to fall, people are thinking that Millennials might be the saving grace for the housing industry. Millennials are now looking to move out of their parents houses and into apartments and houses of their own and due to their massive numbers, there will soon be buyers looking to buy.
While this definitely sounds good, people should remember that it might not necessarily happen. Millennials are still facing increasing amounts of student debt as well as lending standards that haven’t changed. Instead what is more likely is that the supposed flood will actually turn out to be a trickle. Recent grads will be looking to buy houses and apartment but only when they can actually afford them. They have learned from the mistakes of previous generations and have realized that being on sound financial footing is important when making large decisions like this.
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