Yes the largest generational share of the population is the millennials most of whom are just becoming the age of the average first time homebuyer. Creating a sharp spike in demand for realestate.
Comment on Houses in my area increases 82% in just 4 years
tupalos@lemmy.world 1 week ago
Has the population jumped up for ya guys?
11111one11111@lemmy.world 1 week ago
tupalos@lemmy.world 1 week ago
Ya but does that happen with every generation then? Having a sharp spike of first time homebuyers.
Most millennials would be buying homes already. The end of the millennial group is coming up on 30 so I wouldn’t expect them to be the driving force for first time buyers when so many are already established
11111one11111@lemmy.world 1 week ago
I’ll have to look it up to he sure but I wanna say millenials were the largest population increase for a generation since the boomers. Which would make up the really close to the entire existence of the eealestate market as we know it. Wanna say 1930’s the new deal created the foundation of the modern mortgage loan. Either way, the answer is no it does not go up for every generational transition.
It’s actually only the second time it has and will go up by the time gen z cycles to home buying in a span longer than 150 years.
I wanna say you were thinking of this in terms of total population growth increasing but it really is more of a combo between birth rate and poulation percent change, except instead of year over year it is 15 year wondow over 15 year window or however long each generational span is.
jj4211@lemmy.world 1 week ago
Don’t know about them specifically, but it seems that more than anything real estate investors are just grabbing as many properties as they can find, whether they can get tenants or not. A house goes up for sale and it’s bought sight unseen by a company almost instantly.
tupalos@lemmy.world 1 week ago
That’s crazy