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Gen Y The Next Wave of Renters

Who if Gen Y? Well that term is subjective no one can agree on the the years. I like the years that the book “The Age Curve” has, so I will use that.

Baby Boomers 1946-1964

Gen X 1965-1984

Gen Y 1985-2010 according to the book the last generation was 25 years long has not happened in over a

century.

Generation Y is starting to get in the work force. They will be some of the most educated group of people. Now I am not here to say that education is good or bad that is for another website. What does this mean for real estate investor?

With so much education comes school debt. How much debt? Well the internet can’t agree I will go with projectstudentdebt.org. For 2010  the average was $25,250 that is for graduate not included those who did not finish. With an avg payment of about $250. I know cost of a higher education has gone up since then.

With school finished what do they do next. Find a job, apartment and most buy a car after a bit. With all those expenses going out are any of them going to save for a home? A few but that is years and years away. In the mean time what are they going to be doing? That’s right renting from you :)

Check out this Washington Post Article by a Costar economist.

 

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