• robinfrontrange@hotmail.com

Millennial Housing Crisis: Flip or Sell?

Millennial Housing Crisis: Flip or Sell?

With Millennials becoming the generation of the past, as Gen Y and such take the lead, many are looking for homes in which they can start a family and live happily. However, this has become quite the dilemma as predictably so, most homes up to par these days are not meant for a family, but retired boomers. So, this raises the question as the need becomes more and more pronounced, will the real estate market flip retire-friendly homes for families, or force their sale and leave the renovations to the owner? Both sides have their benefits but can also be detrimental to both parties over time. Exploring both possibilities has become a necessity.

 

What if They Flip?

If the real estate market decides to flip, there will be a ton of profit for them, it will decrease the housing crisis all over the nation by a little (cause lets not forget they will be priced high for their efforts) and there will be an increase of houses being built for millennials. This is all well and good however this exact motion is what made the housing problems for millennials in the first place, meaning the cycle may repeat with Gen Y, however that is not certain.

 

What If They Sell?

You can best believe that the real estate market is going to take a huge hit on potential profit if they just sell-off, but it may be worth it if they try to drain all of their energy into making retired homes for Millennials or family homes for Gen Y. This is called a long game, but sometimes it doesn’t work out as planned and you lose what you fought for. Millennials will have homes at a lower price, this is true, but the amount of renovation that must be done will be exhausting.

So, with all of the pros and cons fresh in the mind, maybe you can predict which way this story will end. At the very least though, I think it’s safe to prepare for whatever is to come if either of those possibilities become a reality.

 

Rachel Richardson

You must be logged in to post a comment.