This line of thinking has a compelling logic to it but a researcher at Washington State University says it doesn’t hold up to scrutiny. He conducted an analysis of U.S. Census population figures and also of data from the America Community Survey, which is an affiliated Census research project, and found young households actually have higher homeownership rates than baby boomers and Gen Xers when they were at a comparable stage in their lives.
He also conducted a survey of young people in real estate classes at his university, a group that’s predisposed to be interested in real estate, and says this group’s intention to buy property grew over the course of a semester even though the downturn was examined during the period.
Glenn Crellin is the author of the study and he’s no newcomer to real estate. He’s the associate director of the Runstad Center for Real Estate Studies at Washington State University and a former economist at NAR. He published his paper in the inaugural issue of the Journal of the Center for Real Estate Studies, published by REALTOR® University’s Center for Real Estate Studies.
In the 3-minute video above, Crellin talks about his findings to REALTOR Magazine.