A Shifting View of the American Dream of Home Owning

“Recession and unemployment have dramatically influenced the way Generation Y views home ownership.”

While Gen Y (85 million people born between 1981-1999) has massive buying potential, they are also the most economically constrained with an average of $23,000 post college debt- and no job!  Their view of the “American Dream” of home ownership is vastly different than their parents since buying a home is no longer considered a wealth generator.  This could be a challenge for home builders as this generation may continue to rent for an extended period of time and delay buying.  So builders and developers must find ways to provide products that Gen Y can afford, in locations they “desire that will meet their wants and needs” :

  • Urban settings or town centers where they can walk to work and stores
  • Affordable suburban town settings and neighborhoods that are close to mass transit
  • A focus on work-life balance and feeling connected to their family, community and work
  • Open space and trails
  • Green/ energy saving homes

urban living 2

Email this to someoneShare on FacebookPin on PinterestTweet about this on TwitterShare on LinkedInShare on Google+

Leave A Comment...