In their July issue, Greenville Business Magazine featured a young couple that represents the next generation of home buyers. The article discusses their buying preferences and how the preferences of their generation will be different from those of previous generations.
The article also details research done by HBA Executive Vice President Michael Dey on how demographics have affected the home building industry. In the article Dey contends that reduced demand resulted in the housing market collapse and contributed to the financial market meltdown–that the financial market collapse was a victim of reduced demand, not the cause of it. He states that demand will recover when the next generation of first-time home buyers, Generation Y, begin buying homes in earnest in the next several years.
Read the entire article at Greenville Business Magazine by clicking here. Scroll to page 20 for the article titled “Generational Homebuying.”