The California Association of Realtors has recently released a new infographic on who is moving and who plans to stay put and it seems that Millennials are a bit slow to move compared to previous generations when they were of the same age. These stats are interesting for several reasons – and one of the most notable reasons being that typically the age group currently made my millennial buyers also make up the largest portion of first time home buyers. So why are they staying put? More financially cautious? Not prepared? They just aren’t excited to move? A lot of critics have blamed the amount of student loan debt and the late start due to lack of jobs during the recession as reasons that the Millennials have been slower to join the ranks of homeownership. A third reason why might also because the Millennial generation has been known to be more cautious with debt. They have seen the problems of the recession and the repercussions prior generations have faced, and as such, they are statistically more cautious about the amounts of debt theyaccruee.
Check out the stats over the years in today’s infographic!
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