This infographic from TD Bank notes that “46 percent of millennials will be looking to buy their first home in the next 1-2 years.”
Think about that. There are somewhere around 80 million millennials in America. That means nearly 40 million millennials will be looking to buy a home within two years. That can’t be right.
Who are the millennials they surveyed here?
Anyway, the TD Bank graphic says something very interesting about first-time homebuyers (mostly millennials, probably): the top three amenities include a backyard or pool, attractive design, and energy efficient and smart technologies.
If anything, this infographic tells me that millennials are still wanting to live a life free of worry and stress. They want to party, escape and enjoy. The graphic says 43 percent are looking to buy in suburban areas. We hear so much that millennials are going back to cities, hoping to clean up and energize places like Detroit and Cleveland. That’s a small segment. Most millennials are still tethered to the idea of the defunct “American Dream” – college, marriage, kids, house in the suburbs. The middle-class white ethos.
And who will be there to help along the way? The big banks. Like TD Bank.
Read between the lines and stop falling for the “American Dream.”