Millennials Boosting Housing Market in Seattle and Elsewhere
There's an old saying that the youth will lead the way. Typically one can get a good idea of the stable future by looking at the youth of the present. As young people form their ideas about the world and as they grow into it, they also end up shaping the course of society. This is true for most situations, but even more so for the housing market. And, at the moment, this means that the Millennials are the group to keep an eye on.
When people notice homes for sale in Madison Park in Seattle, that's the biggest explanation. The Millennials grew up with a few towns on their list as the best places to live. And, these towns usually differed dramatically from where they were actually raised. Unlike generations of the past, moving to new areas isn't nearly as daunting for Millennials. When one grows up talking to people online all over the planet, a simple jump to a new state or town isn't seen as that shocking.
This return to an almost frontier spirit has led many Millennials to what they consider one of the best cities on earth: Seattle, WA. Along with this, places such as Portland and Austin have seen a boom in Millennials for similar reasons. The towns simply have a reputation with that generation as a fun but still safe and secure place to live.
As the Millennials grow older, they're increasingly interested in having fun for the moment but also with an eye on settling down in the future. This often means good things for the housing market as a whole. Seattle’s Capitol Hill real estate scene is ample evidence of this. The interest in the area from Millennials has brought new life to the market. Even better, it's invigorated things with a generation of excited young people eager to make the future a great place. Both for themselves and for the market they're participating in.
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