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Non-Tech : Investing in Real Estate - Creative Opportunities

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From: John Vosilla1/21/2020 8:39:38 PM
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The Washington Post. “Millennials’ share of the U.S. housing market: small and shrinking. Because homeownership is the chief builder of wealth, the trend is ‘bad news for the economy overall.’ In 1990, baby boomers, whose median age was 35, owned nearly one-third of American real estate by value. In 2019, the millennial generation, with a median age of 31, owned just 4 percent. They’re not likely to reach 30 percent of the housing market — or even the 20 percent attained by the smaller Generation X at the same point in their lives.”

“Because homeownership is the chief builder of wealth for middle class families, if this trend continues ‘we’re looking at a generation that will have lower lifetime wealth,’ said Jenny Schuetz, a housing policy expert at the Brookings Institution. In many of America’s most desirable cities, the median price of a home is well beyond the reach of a typical salary. For the past several decades, developers in major metro areas like New York City have built a glut of luxury condos while ignoring the needs of the middle class.”

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