Millennials Prefer Cash Investments
For more than a decade, real estate has been the #1 choice for investing among Americans polled by Bankrate, the publisher said. However, this may be changing.
Younger Americans (millennials) had the highest preference for cash investments among all age groups, according to the latest poll.
A lot of ink has been spilled about the financial plight of millennials. Many left college with very high levels of student loan debt, and ran smack into an economy crippled in the wake of a housing-led recession.
Perhaps this combination of factors has produced a generation that is focused more cash investing, and views real estate purchases with skepticism?
On the other hand, we may simply be seeing a temporary blip in the data: housing markets have stabilized and strengthened considerably in recent years.
Also, increasing numbers of millennials are now reaching the age where Americans traditionally look to settle down, and form households.
These factors may cause millennials to re-asses their views on real estate in the years ahead.
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