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:
And they are earning more than other full time American workers:
Student debt is an issue. However, 29% have no student debt and the remaining 71% have an average debt under $30,000:
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:
Let’s not forget these Millennials. We must teach them the advantages of homeownership.
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Very interesting. Thanks for sharing!
Never thought they were doing that well! Good for them!