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Millennials and Their Homes: Still Seeking the American Dream

October 1, 2014 Comments off

Millennials and Their Homes: Still Seeking the American Dream
Source: Demand Institute

The economy is getting better, albeit slowly, and a generation faced with numerous economic challenges is looking ahead. The weight of Millennial influence on the economy and housing market will be significant over the next five years – Generation Next has become Generation Now.

But despite the growing influence of Millennials, many myths to the contrary persist. When they move, they will all move to the city and rent; they don’t want to own things; they won’t need cars anyway – and there will be a massive slump in demand because they are all going to be living single in their parents’ basements for the foreseeable future, right? Not quite.

Like most myths, there is some truth here – but only some. Last summer, The Demand Institute surveyed more than 1,000 Millennial households (18- to 29-year-olds) about their current living situation, moving intentions and home preferences, as part of a broader effort to understand where future home and community demand is headed. What we learned was often counterintuitive to the prevailing wisdom about this important generation, which is likely to behave more like earlier generations than many appear to expect.

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The Shifting Nature of U.S. Housing Demand The U.S. housing market is growing again—but not as we knew it

May 21, 2012 Comments off

The Shifting Nature of U.S. Housing Demand The U.S. housing market is growing again—but not as we knew it
Source: Demand Institute (Nielsen/Conference Board)

Our homes play a vital role in our lives, from the time we awake in the morning to when we return home from a long day at work or school. For many Americans their home is also their most valuable financial asset. But recently this has proved to be a rather volatile asset, and dramatic changes in home values have created stress for many Americans.

The Shifting Nature of U.S. Housing Demand is the first major publication from The Demand Institute. The trajectory of the housing market has now reached a true turning point. Based on our team’s analysis, the worst of the housing crash is over and a recovery has now started.

Yet this recovery will be very different from previous ones, with implications for leaders in most sectors. Where housing goes, the economy follows. Each time a house is sold many industries benefit as consumers arrange financing, launch renovations, and invest to improve the comfort and value of their homes. We hope you will find this report on the U.S. housing market to be timely, thought provoking, and valuable.

+ Full Report (PDF)

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