As a generation, millennials coming of age currently, are struggling to buy their first homes. Saddled with student debt, faced with uncertainty in employment, this generation cannot and is not buying into the age-old American Dream of owning a home. This generation is much more mobile than their predecessors, and is open to geographic relocation for employment. This trend provides numerous opportunities for investors to cash in on real estate than ever before.
A number of startups are helping investors take advantage of this shift in priorities, including those that aim to ease the financial strain for millennials by forfeiting the buyer’s agent commission, and others, like HomeUnion that help investors buy and manage homes that in areas that millennials will rent. For many of this generation just approaching adulthood, even if many fees are waived, debt and uncertainty in employment are factors enough to keep them renting for the foreseeable future.
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