The New "Young Pioneer" Housing Boom!

A new housing boom?

I tell friends and colleagues about it and they all think that I am nuts!

Problem is that my colleagues are living in their $400,000+ residence and soon to celebrate turning 40 or worse yet, turning 50.

Fact is that the housing boom is being generated by the emerging Millennial home-buyers… most of which classify themselves as Middle-Class,

While nearly all of the coupled Millennials are dual-wage earners… most are still in the career forming years and even together, post incomes less than $75K.

The segment we nicknamed as the “Young Pioneers” is the group that is driving the trend right now.

And while some post concern about job stability, what is their main focus today?

Buying their first house.

There are news stories about homes under $175,000 that are going into bidding wars.

Yesterday, I spoke with a real estate developer over in Atlanta. They told me that the latest move he is strategically making is reducing down the size of the homes he is building and shifting the price-point from the 400’s to the low 200’s.

Go watch HGTV and see how the shows are being tailored to fit this group… everything from Property Virgins to First Time Homebuyers to For Rent.

HGTV also just aired their special Homeowner design competition in which most of the contestants were first time homebuyers and most age 35 or less!

Some of the observations I have made:
• No desire for a family room and a living room… one gathering room is good enough
• Space for a work-from-home office is critical…if coupled, hear a lot asking for enough space for two desks
• Some yard space is important… not looking for acreage, just space outside
• See outside space as an extension of the house and its square footage
• Attached bath to the master bedroom is important
• Green = Green … they are very eco-sensitive… bamboo floor is hot!
• Granite and stainless steel makes or breaks a kitchen – real is not a requirement…as long as it looks real…then its okay
• Wallpaper is OUT
• A fireplace is a centering point… a feature than anchors
• Many of the buyers are anti-carpeting… wood or tile floors are key
• Colors on the wall are also okay if they like the color!
• Furniture is going to be hot as longs as it captures good looks no matter what might be the design trend of the week!

Home Depot, Wa-Mart, Target and K-Mart are not only where the Millennials go to shop, but they are also the sources they turn to for counsel, ideas and advice.

Decorators and designers are okay, but they have to work within tight budgets and be prepared to give counsel in other areas like cooking and making beds!

If you want to find out more, seriously tune into HGTV… but also get those iPhones tuned into the hot links like Twitter!

Shoot…with the news release yesterday that you can post your pics on Bing, you can track the trend each time you search the net!

So…Hey, Let’s Journey!