Why Buyers Will Want Bigger Homes In 10 Years

         

A couple interesting stats are coming out. And they show that we have a new generation that's upon us.

And I'm gonna start with the first stat, which is talking about young adults.

So young adults (adults described as 25 to 34) have come back to live at home. Now in 2020, this hit an all time high —17.8% of young adults, 24 to 30 came back home to live with their parents. That's the highest it's been since 1960 guys.

And last year in 2021, it still was 17%, which was the second highest year since 1960.

So that's one side of what some people are starting to call the "sandwich generation."

Now who's in the middle of the sandwich? Guys like me. People that are 44 to 60 years old—I'm 52 right in the middle. So we got our kids coming home, but who's coming on the other side? Potentially older parents, right?

So parents that are maybe 60, 70, 80 years old also might need to come and be a part of the family, right?

Multi-generational housing and bigger housing could be a major need over the next 10 years. Maybe ADU- additional dwelling units, maybe daylight basement that can be converted to apartments. These could be a really bigger need coming in the next 10 years as my generation, the sandwich generation has this little squeeze point.

So it's maybe something to talk about with your sphere of influence. Maybe bring it up, do a video about it. Like I'm doing now. Maybe get out there and do some marketing around it. Do you need a bigger home? Because you know, people are coming back to live with you when you weren't expecting.

Get out there, get in front of it, and see if it's something that's happening in your market.

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