The oft maligned “millennial’ generation is coming of age and flexing their considerable strength. This is having a real impact on many different aspects of American life, from how we get around to how we buy our groceries, how we communicate and how we view and find our homes.
Millennials are now the largest generation, bigger even than the baby boomers, there are over 75 million of them and 74 million boomers.
So, millennials are influencing how the rest of the market behaves through adoption of technology and they make up a huge percentage of the market who are age when they might purchase a home, but are they worth pursuing?
The truth about millennials and home ownership
Most millennials are drowning in debt and earn less than someone their age did in the year 2000. The average student debt has increased by 77% and the number of people with student debt has increased by 89% since 2004. This has resulted in many people moving back to their parent’s house after graduating from college and completely changed the way they view money and how to spend it.
Because of the higher debt, lower income and reduction in entry level housing available it seems that millennials have almost given up on owning their own home and justify spending their disposable income on things like brunch, make-up and clothes.
It’s not all bad
But, it is important to remember that these studies are not infallible and do not represent everyone in the generation. There are those who are fortunate enough to be in a more favorable financial position. The challenge is finding them. Distributing postcards to an entire neighborhood isn’t going to do it, that is for sure. So what options are there?
Targeting the millennials who can afford to buy
PropertySimple allows you to target the people you want to be talking to. You can select an age range, income, household income, likely to buy a house in the next six months and many more targeting criteria and then reach them where they spend most of their time; social media.
PropertySimple is the most effective way to reach your desired audience and advertise to them via social media, call us today on 949-209-8912 to learn more today.