Study Shows Millennials Deserve More Credit

Dated: 01/31/2018

Views: 82

Image title

Study Shows “Millennials Deserve More Credit”

First Time Home Buyers, For Buyers, For Sellers, Millennials, Move-Up Buyers


When it comes to talking about millennials, there are many stereotypes out there that have influenced the way the public feels about the generation. Whether it’s the assumption that millennials are irresponsible with money and would rather buy avocado toast than save for a down payment, or that millennials jump from job to job, the majority of these stereotypes paint the generation in a negative light.

A new study by Bank of America entitled Better Money Habits Millennial Report recently came to the defense of the generation when it reported that:

“Millennials deserve more credit – both from themselves and from others – for their mindfulness when it comes to money and their lives.”

Here are some key takeaways from the study proving that millennials deserve more credit for what they are already doing:

  • 63% are saving – (47% have $15,000 or more in savings)

  • 54% are budgeting – (73% who have a budget stick to it every month)

  • 57% have a savings goal – (67% who have a goal stick to it every month)

  • 46% have asked for a raise in the past 2 years – (80% who asked for a raise got one)

  • 59% feel financially secure – (16% have $100,000 or more in savings)

Many have wondered if millennials even want to own their own homes or if they would choose to rent instead. Well, not only do they want to own their own homes, but many already do and are looking to trade up! A recent study by realtor.com shows that 49% of Americans who plan to sell their home in the next 12 months are millennials!

Danielle Hale, realtor.com’s Chief Economist, gave some insight into why millennials are looking to sell,

“The housing shortage forced many first-time homebuyers to consider smaller homes and condos as a way to literally get their foot in the door. Our survey data reveals that we may see more of these homes hitting the market in the next year.”

Bottom Line

Not every millennial fits into the stereotypes that are so prominent in our society. Those who have risen above the stereotype are ready and willing to buy a home of their own, and many others already have!

Contributor
Charles R Juarez Jr

Blog author image

Charles Juarez

With my expertise in realty for both buying or selling a home in San Antonio, and surrounding areas. You have found the right resource for your real estate needs. Whether you are looking for a new hom....

Latest Blog Posts

Your CLUE Insurance Report Matters

Your CLUE Insurance Report MattersBy: Mariwyn EvansPublished: August 11, 2016Your CLUE insurance report keeps your homeowners insurance claims alive for seven years--and that could cost you on

Read More

2018 San Antonio Fiesta Schedule

www.fiesta-sa.org/wp-content/uploads/2018/03/2018-Fiesta-Schedule-of-Events.pdf    For some reason this link is not working. Please goto Fiesta-SA.org to down load this schedule.

Read More

Apr 16 2018 51568 3

Making an Offer  Written by SABORA REALTOR® can help you find your perfect home, but only you can decide how much you are willing to offer for it. The

Read More

Apr 16 2018 51568 2

Deciding What You Need & Want Written by SABOR Some suggestions to help you prepare for your search Make a list of your needs and wants. Do you need an

Read More