November 17, 2017
Cheddar launches its first "House Rules" segment with Chase Home Lending! Gregor Watson, Co-Founder of Roofstock, joins to discuss the state of the millennial real estate market. He says Portland,OR, Dallas, NYC, Austin, San Francisco, Pittsburgh, and Nashville are some of the top cities where young adults want to live. He says people are still focused on employment, and those areas are tremendous for booming industries, such as tech. Also, young adults are looking for cities where they can immerse themselves in the arts and music scene. A lot of the cities he listed have very active downtown areas. This generation appreciates experiences more than things, which is part of why you are seeing less retail and more neighborhood dining spots. And what impact do millennials have on the economy of urban centers? Watson says the data show that once a couple has its second child they head for the suburbs. Because millennials are having children later and staying in the cities longer, they are having positive impacts on dining, local entertainment, etc. While looking into investment properties Watson says you should focus on safe neighborhoods, good schools, and an even supply/demand balance.