Tuesday, April 26, 2011

Generation Y Housing Update

Last week I wrote Do Echo Boomers Just Own Or Rent, which questioned whether other options for housing existed for Echo Boomers. I've compiled some data from this year which offers three options now: own, rent and relatives. The new relatives category includes an Echo Boomer living with either friends or relatives.

It should be of note that the original data are demarcated by gender, as I intend to break down the study by gender and age. However, for this blog, I have combined the data which is spread throughout this blog. For now, the following housing data are separated by gender, so that you can see some trends.

The only slight odd part about the above data is that males tend to own more homes than females, yet females report wanting to buy homes by double what males report. I expect this trend to change. When Echo Boomers are in the age range of 28-41 (ten years from now), there will be probably be double to triple the amount of female homeowners as male homeowners. I briefly hit on this in Will Low Marriage Rates Sap Future Housing Demand?