Don't Count on a Millennial to Buy Your Suburban Home

James Briggs speaks for his Millennial generation cohorts when he outlines the many reasons why unloading that suburban home on young buyers will be a hard sell.
June 25, 2013, 8am PDT | Jonathan Nettler | @nettsj
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"If you're a homeowner, there has been a lot of great news for you lately — namely rising home priceslack of inventory and bidding wars among increasingly desperate buyers," says Briggs. "Although the housing market isn't on fire like it was in the early 2000s, it also isn't imploding like it was in 2009. All in all, if you're looking to sell a house now, you should feel thankful about your timing."

"But take heed, baby boomers and Generation Xers. If you're planning to hold onto your home for years to come, don't count on my generation — the millennials — to buy it from you."

"Urban housing projects — even town center-style developments in the suburbs that are built near major transportation hubs — are likely to do well with my generation," he adds. "But if you own a large house that's miles from daily conveniences, don't expect us to buy it."

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Published on Wednesday, June 19, 2013 in Baltimore Business Journal
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