Though the vast majority of millennials value home ownership, it may be difficult for many millennials to reach this goal in the coming year. Based on calculations from the Seattle PI, only two out of 40 Seattle neighborhoods are in reach for households earning the median income for the city – $83,476.
Zosha Millman | Seattle PI
No one can say for certain what’s going to happen in 2019, but people have some predictions — the National Mortgage Bankers Association has predicted interest rates to keep going up at least half a percent in 2019, for instance. In that same time, the U.S. Census Bureau estimates that millennials will overtake Baby Boomers as the nation’s largest living adult generation.
Millennials — here defined as those who were between ages 20 to 35 in 2016, the last date for which population estimates are available — numbered 71 million, while Boomers sat at 74 million. As the numbers on the younger generation swell, they’re expected to overtake the Boomers in population in 2019, eclipsing them with what’s estimated to be a 73 to 72 million population.
To read the full article, click here: Millennials will become the largest generation in 2019 — so what happens to real estate?