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Let’s Rethink Millennial College Graduates & Homeownership

Whenever real estate professionals think about prospecting Millennials with a college degree, four objections immediately pop up:

  • They don’t have a job
  • If they do have a job, it’s working at McDonalds
  • They have hundreds of thousands of dollars in student debt
  • They are living at home with their parents because they can’t afford to move out

Let’s look at these four assumptions:

Actually they are doing better than the average American when it comes to finding a job:

Millennials Unemployment

And they are earning more than other full time American workers:

Millennials Wages

Student debt is an issue. However, 29% have no student debt and the remaining 71% have an average debt under $30,000:

Millennials Student Debt

They are living at home but not because they necessarily have to. Households (husband/wife or two significant partners) living with parents are actually doing quite well:

Millennials Living at Home

Let’s not forget these Millennials. We must teach them the advantages of homeownership.

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