More and more millennials are getting into the housing market. A survey by homebuilder PulteGroup found that 65% of those who make more than $50,000 a year reported increased interest in buying a home.
The recession has forced Generation Y, roughly those age 18 to 34, to delay buying homes. Now millennials are now entering their thirties and the cost of buying a home is now becoming a reality.
While student loans and financial resources are keeping some younger people from the housing market many others are realizing that in many cases owning a home is cheaper than renting.
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The survey also reported that millennials know what they want in a home:
84% listed storage as a priority was ample storage
76% want space for TV and movie watching
69% desire an open living/room kitchen layout
63% look for outdoor living or a deck
36% cited the ability to work at home
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Other recent studies have affirmed the PulteGroup study and have shown that 90% of millennials plan to buy a home someday keeping the dream of homeownership alive.
