Contrary to popular belief, millennials are interested in purchasing homes. They're just waiting longer to buy.
A September report from the real-estate website and app Zillow found that millennials — i.e., people between the ages of 18 and 34 — are the largest group of homebuyers in the US. (The median age of a homebuyer is 36.)
Spencer Rascoff, Zillow's CEO, has some insight into why millennials are delaying their first home purchases. On an episode of Business Insider's podcast, "Success! How I Did It," Rascoff broke it down for our US editor-in-chief, Alyson Shontell:
"As a result of limited starter-home inventory, they're renting longer. And when they buy their first home, they're buying a much nicer home than a prior generation," he said.
"I mean, many people are basically skipping starter homes; they're renting until their 30s, and that first house they buy is a million dollars, and they just are not even buying the $200,000, $300,000, $400,000 home, which is a total mind shift as compared with previous generations. So they're still buying homes — they're just buying them later and buying them bigger."
Source : http://www.businessinsider.com/millennials-are-killing-list-2017-8