The generation is more bullish on the economy, and that extends to their thoughts on the home They may be “entitled,” “self-centered” and “needy,” but they’re also the most optimistic about the country’s future.
Nearly half (49 percent) of millennials — those born between 1981 and 1996 — say the country’s best years still lie ahead, compared to 42 percent of Gen Xers and 44 percent of baby boomers, according to the Pew Research Center. The optimism comes in spite of the millennials having higher level of student loan debt, poverty and unemployment, and lower levels of wealth and personal income, than the two immediate predecessor generations. Eight in 10 millennials say they either have enough money to lead the lives they want (32 percent) or expect to in the future (52 percent).
According to homebuilder Pulte- Group’s latest Home Index Survey, 54 percent of millennials think the economy is better than it was a year ago, and 74 percent of millennials view now as an excellent time to buy the things they want or need. Regarding specific homepurchasing decisions, the PulteGroup survey found the following:
85 percent of millennials plan to purchase a home in the future.
65 percent plan to spend more for a home that is move-in ready versus a fixer-upper.
49 percent plan to purchase a home in the next two years (41 percent of that group currently rents; 56 percent are current homeowners).
Millennials associate homeownership with happiness (62 percent), independence (61 percent) and achievement (59 percent).
One-third view a home as a financial investment.
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