Castro Dispels Myth About Millennials and Homeownership
Millennials have received a “bad rap” as being unmotivated and not moved by the American Dream and same things as previous generations.
First I want to suggest this “bad rap” is a generalization based on the observation of a few from this generation. The bottom line, it’s not fair! We must look at each person as an individual and not by the generation in which they belong.
In this vein, HUD Secretary, Castro has documented proof of my comments above…
HUD Secretary Julián Castro said he believed that millennials are “just as committed” to homeownership as previous generations—contrary to the widespread believe that the members of the younger generation are not interested in owning a home. During his remarks to the National Association of REALTORS® (NAR) Regulatory Issues Forum, Castro commented, “The American Dream of homeownership is as strong today as ever. And perhaps the best news of all is that millennials are showing that their generation is just as committed to homeownership as their parents and grandparents.” He cited a survey from TD Bank that found that 40 percent of millennials plan to buy their first home sometime during the next year. He added that the housing market is a part of the nation’s overall economic strength, as real residential investment has grown by more than 8 percent for six straight quarters.
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