Bridger PenningtonFund Launch & Investment Expert

Millennials Don't Want Homes?!

20 Mar 2023 · 1 min

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Bridger Pennington examines why millennials and Gen Z are delaying marriage, kids, and home purchases. Institutional buyers like Blackstone and Starwood are snapping up properties, making homeownership harder to reach. Meanwhile, some younger people are choosing a suitcase lifestyle, relocating from cities like New York to Florida instead.

Chapters

Millennials don't want homes anymore. Do you see that trend still happening in the United States? If so, where do you think we're headed?
I do see that happening because millennials who are right now in the prime of like home buying age are delaying getting married, delaying having kids, delaying buying houses. But that's actually why I think millennials and Gen Z and younger generations are so attracted to the suitcase lifestyle is because they're not tied to any one location. In the middle of COVID we saw people who were like based in New York pick up and move to Florida because they wanted to be on a beach and they didn't have to work in an office. What I think is going to be interesting about it though, is the vast majority of Americans have historically held most of their net worth in their primary home. And now either they're not wanting to, or they're being priced out of those homes, right? Because you have the large funds like Blackstone and Starwood buying entire neighborhoods. And so I think like homeownership in general is just not really as attainable as it used to be.