FRIDAY - GEN Y, WHY ME?
While I service a diverse range of clientele, the majority of my clients are first time home buyers in my age bracket, Generation Y or the Millennial Generation. Though Generation Y is economically frustrated, and unsure if they stand a chance, the question remains - are they really lost?
Most likely no.
Most likely no.
Hard economic lessons learned early has changed the landscape of job growth thru technology and freelance. Freelance work is a natural outgrowth of larger corporations making cuts and asking for higher margins while producing less. The middle class is being slowly eradicated. However, living in the Bay Area, known for its affluence, has implied benefits of upward income mobility.
Gen Y buyers are re-energizing housing markets and their economic history will affect what they are looking for. Most notably, they will be using the inside of their home just as much as the outside. Think patios and backyard spaces. Some of my favorites:
Millennial homebuyers seek diversity, walkability and smaller homes, but that doesn’t necessarily mean urban living. Something worth mentioning is that they're eco-sensitive - some trends in green business and, if you have the time, here's the 2014 State of Green Business Report. Most definitely something to keep an eye on, if you aren't already.
I'm curious:
- Regardless of age bracket, what are you looking for in a home?
- What are your thoughts on freelance work versus full time work?
PS There is no leap year this year. If there was, I think I'd take the day off and reconfigure my home office.
