This is a large and
mostly untapped
segment of the housing
market
and mobile device far more than other demographic groups. Mobile marketing is much more
effective with Millennials, and Realtors® should
be sure that they are able to not only market to
them, but to communicate with them.
The bottom line is this: be prepared. This is a
large and mostly untapped segment of the housing market, and, with rising rents and a demographic group moving from young into middle
adulthood, the tipping point is coming. Unless
there is a huge spike in construction, I see no
real reason for rents to go down anytime soon.
And with rents likely stay high for the foreseeable future, Millennial obstacles to home buying
(most notably high levels of student loan debt)
will ultimately be overcome by a marketplace
that continues to evolve in a direction that will
push Millennials toward home buying.
Realtors® who understand these factors will not
only have a better understanding of what the
future may hold for Millennials in the Michigan
housing market, but will be positioned for success when the Millennial tipping point comes.
Brian Seibert is the president and co-founder of
Waterford, Mich.-based Michigan First Mortgage, and is
the Director of the Michigan Mortgage Lenders Association.
Brian can be reached at bseibert@MichFirstMortgage.
com.
Advertise in Michigan Realtor® Magazine
Michigan’s Top Real Estate Industry Publication
A publication of Michiga
n Realtors®
DECEMBER 2014
An online publica
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