A Preference for Walking Greatly Affects Housing Market

July 30, 2015

A study by the National Association of Realtors found that the Millennial generation prefer walking over driving by 12 percentage points, meaning the largest demographic group prefers walking over any other generation.

“The housing market must change to meet these preferences,” argues Kent Hoover, Washington Bureau Chief of Business Journal. Millennial disinterest in traditional single-family homes may be one reason why the homeownership rate in the U.S. fell to 63.4 percent in the second quarter, its lowest level since 1967.”

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