Gen X and Gen Y are Gen Buy! |
If you stick around long enough, almost anything can happen. For the first 19 years of my real estate career, I was able to say I had never seen prices go down, only up. For the next 16 years I was able to say that I had never seen prices go down significantly or for long. But the last recession was really deep and stark and tragic, and I saw the real estate industry talk about the extent of the damage that had been done to the American Dream , and how Gen X , (born between 1965 and 1979), and Gen Y or Millennials, (born between 1980 and 2000), weren't going to want to buy after seeing foreclosures and short sales and bankruptcies (oh my!) . Iconoclasts galore predicted a "recession mentality" similar to the "depression mentality' found in children of the 1930's - but this time youth forgoes home ownership in favor of perpetual renting and a more transient life style. Me? I was skeptical. I remembered how my first home purchase was fueled by the impending birth of my son and my