Boomers’ children more cautious about housing
Survey finds younger generation still interested in buying a home.
Here’s a benefit of the housing bust: It has created a generation of young Americans who are more knowledgeable about homeownership than their baby-boomer parents were at their age.
At least that’s what the kids think.
Those between the ages of 18 and 35 still want to own a home, and view homeownership as an indicator of success, according to a recent survey by Better Homes and Gardens Real Estate. But they’ll buy only when they’re sure they’re ready for the responsibility — a sign of maturity from a group that often is stereotyped as being fiscally irresponsible and maintaining a less-than-stellar work ethic.
Moreover, 69 percent of the 1,001 18- to 35-year-olds surveyed also said the recent housing downturn has made them more knowledgeable about owning a home than their parents were at their age, the results found. And 77 percent think they’ve gained much of this knowledge because of the large amount of media coverage about the real-estate industry over the past six years.