Thursday, September 29, 2011

Millennial Males and Real Estate

In the past, I've argued that female Echo Boomers will be more likely to buy a home than male Echo Boomers. And if you review the Millennial housing data, you'll notice that 17% of male Echo Boomers own homes. However, the age range of my study is from 18-31, so what trends are currently happening for the 25-31 age group?

23% of male Echo Boomers are currently homeowners. While that's a minority, it does indicate one of two things: as males age, some of them consider buying a home or the married male Echo Boomers have caved and purchased homes. Recall, that 21% of the Millennial generation is married.

Notice that among male Echo Boomers aged 18-24, only 5% are homeowners.

If you're selling real estate or your job relies on the housing market, I would suggest 3 takeaways from these data:
1. A large portion of married male Echo Boomers will be consumers of housing.
2. As male Echo Boomers age, a few of them may change their mind and buy homes.
3. The middle-class male Echo Boomers were more likely to be homeowners; the wealthy male Echo Boomers were more likely to rent, remain single and report an interest in only renting.