Generation Y???? How About Generation WHY NOT!!!! Millennial Homebuyer's WELCOME!!!!
As a Generation Y person myself I have heard so many terms for this generation... Generation Y, the Millenials, Echo boomers, and my personal favorite.... The "lost" generation... I feel they only call us that not because we are lost, mostly because the baby boomers and generation X had a little to much fun and created this gynormous mess that are Gen Y'er's are getting lost in and will eventually be responsible for cleaning up.
But in regards to being an actual "lost" generation... All I have to say to that is HECK NO!!! I will say that Generation Y is going to ROCK THIS WORLD! Why you may be asking... Well I will tell you why...
You are looking at the most entrepreneurial generation you will ever see! This is the generation that has been raised since childhood to go to college get a degree and get an awesome paying job and live happily ever after.. Well we went to college we got our shiny new degree and ummmmm... well where are all these awesome jobs that were promised us.. ::Listen closely to the flushing noise in the background::.. So now what??? Most of us college grads.. We are, for the most part..(I will admit each generation has their village idiots.. Some generatons had a little more of their fair share) a very educated and intelligent generation..
Human nature is to survive even under the most trying circumstances. Generation Y's desire to survive is very much there. You take away their job opportunities, they will create their own, you take away our corportate offices... No worries.. We can work from a Starbucks and with all the caffiene we can work overtime. By creating adversity for this generation you are creating, what I hope to be, a new wave of small business owners!
So what do Generation Y'er's need to know?
Investing in real estate is STILL the best investment!!!
That's right... I said it!!! Real Estate is an AMAZING investment!! I know we are all comfortable with renting our cozy little apartment/townhome/condo/loveshack/bachelor/bachelorette pad/childhood bedroom at mom and dads house... But do you realize how much money you are throwing away on rent?!?!?!!? There are no tax deductions, benefits, write-offs at all to renting. You are only recieving the instant gratification of having a place to live for another month..
The American dream of homeownership is still alive and well! One of the biggest detterents to buying a home is lack of a down payment, there are so many programs out there that help with that.. There are programs right now where you can buy with as little as .5% down!!! Example: If you qualify for a $350,000 home loan with this program that is only a $1750 downpayment.. Is that do-able??? I would say so!
Generation Y'er's also keep in mind NOW is a great time to buy.. You are buying in a down market with low interest rates..Our generation will NEVER see interest rates like this again! I know we are not a bunch of procrastinators... That is not our style... As young entrepreneurs we make decisions that make the most financial sense... It's time for us to invest in some real estate! SO GET TO IT!!!