The year 2016 was an eventful one for home building.
Fund Managers Bet on Suburbs as Millennials Start to Settle Down
Once notorious for shunning the 'burbs, Millennial demand for suburban homes is growing
Real estate agents, demographers, and car salespeople across the country are noticing that Millennials are following in the foot steps of their parents to the suburbs, just in a delayed timeframe, Reuters reports.
An estimated 4.3 Millennials will turn 30 this year, and the number is set to jump to 4.6 million by 2020, which is the greatest number of adults in their early 30s than at any other time in U.S. history, an analysis of U.S. Census data by Wells Fargo found.
According to Reuters, fund managers are “increasingly buying home builders, mortgage lenders, and baby clothes makers that stand to benefit as Millennials spend less on themselves and transition to parenthood.”