Santa Barbara Real Estate

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For Buyers, Sellers, and the Real Estate Curious

December 15th, 2014 · No Comments · Mark Lomas and Kirsten Wolfe, Real Estate News

Millennial Update

By the end of 2015, millennial buyers (under the age of 35) will become the largest group of buyers, overtaking Gen X (35-50 years old).

Roughly 42 percent of millennials say they want to buy a home in the next one to five years, compared to just 31 percent of Generation X, and by the end of 2015 millennials will become the largest home buying age group.

The lack of home buying activity from millennials thus far is decidedly not because this generation isn’t interested in homeownership, but instead because younger Americans have been delaying getting married and having children, two key drivers in the decision to buy that first home.   As this generation matures, they will be a homebuying force to be reckoned with.  Stan Humphries, Zillow Chief Economist

Parking Real Estate

Ten parking spaces of 150 to 200 square feet each – one flight below the street – at the apartment building at 42 Crosby Street in New York City have been offered for sale by the developer for $1,000,000 (One Million Dollars) each.  Nearly 5 times the median U.S. price for an entire home.

 

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