Jack Lewitz (Exit Strategy Realty)

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Rainmaker
4,054,053
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

And that's why they say that people who rent have virtually no equity relative to those who build family wealth through home ownership.

May 12, 2016 10:26 PM
Rainer
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Anna Hatridge
R Gilliam Real Estate LLC - Farmington, MO
Missouri Realtor with R Gilliam Real Estate LLC

They are both potential first time buyers.  

May 12, 2016 11:22 PM
Rainmaker
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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Millennials don't want to own stuff. They want to do stuff. Many of them feel that the world is just too impermanent and the future too uncertain to invest in. The ones that do the math and really are interested in investing are pretty smart, from what I've seen.

May 12, 2016 11:17 PM
Rainmaker
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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Yay - my daughter is spending 24% - I am so glad she got a good job and a room mate! 

May 12, 2016 10:36 PM
Rainmaker
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Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

You wouldn't like my answer so I'll keep it to myself

May 13, 2016 09:57 PM
Rainmaker
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Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Time for more tiny houses

May 13, 2016 08:21 AM
Rainmaker
1,456,727
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Jack Lewitz According to Market Watch more than half of the millennials have less than $1,000 in savings. Could be the reason why they have to rent.

May 13, 2016 12:32 AM
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

That may change if we get a Real Estate centered person in the White House

May 13, 2016 12:08 AM
Rainmaker
307,149
Anne Lok
Berkshire Hathaway HomeServices Toronto Realty - Toronto, ON
Toronto Modern Real Estate

I only know they don't like to be called millennials most of the time.

May 12, 2016 11:43 PM
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

they're not into the rat race that goes along with high earnings.... they want their free time to do as they wish, from what I've seen....

May 12, 2016 11:22 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Poor planning and budgeting like this is why both will never build a future for themselves.

The poor kind of have a reason, but the 70K person is just irresponsible.

May 12, 2016 11:05 PM
Rainmaker
882,261
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I am assuming you mentioned MILLENNIALS for a specific reason.

There are those at all income levels who rent. the higher earners by choice, the low earners by necessity.

But the population group you identify are those who grew up with FaceBook, created the friend referral industry, place quality of life closer to the front earlier than those who preceded them. And finally, the are the drivers behind the sharing economy, the AirBNB, Lyft, Guber, Amazon, and on and on. 

Barbara Todaro hinted at this, and correctly so. The priorities of the millennial may differ from that possessed by those older than they are. Some of those priorities include owning later, pre-repurposing, what gives my life greater fulfillment.

Irresponsible? We'll see what their pharmaceutics bills are with they reach 55.

May 12, 2016 11:36 PM
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I sorta figured something like that.  And what Nina Hollander said

May 12, 2016 11:23 PM
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

interesting

May 12, 2016 10:53 PM
Rainmaker
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Richard Weeks
Dallas, TX
REALTOR®, Broker

Interesting stastics

May 12, 2016 10:22 PM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Interesting.

 

May 12, 2016 10:22 PM
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I find more and more millennial that o not want he responsibility of ownership.  They don't want to work on upkeep

May 13, 2016 01:53 PM
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I didn't know that. Rents are exceedingly high in my area too.

May 13, 2016 12:30 PM
Rainmaker
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Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

As a landlord, I love my tenants...as a Broker, I want everyone to own their own home...

May 13, 2016 11:59 AM
Rainmaker
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Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Anna Hatridge : Bingo ......the right answer!

May 13, 2016 09:35 AM
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I would have guessed that those earning less that $25K would be spending more.

May 13, 2016 05:11 AM
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Wow ... and yet I am not surprised.

May 13, 2016 04:14 AM
Rainmaker
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Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

The only thing I've known is ownership other than vacation type rentals although I see the attraction considering their chameleon like lifestyles. There's freedom in the ability to pick up and move in an instant.

May 13, 2016 03:08 AM
Rainmaker
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FN LN
Toronto, ON

Interesting info.

May 13, 2016 01:19 AM
Rainmaker
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

They both live at home.....

May 13, 2016 01:18 AM
Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I thought that might be the answer.

May 12, 2016 11:26 PM
Rainmaker
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Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Wow

May 12, 2016 11:05 PM