Reply to Genz and millennials don't want your small starter homes want forever homes now

Forum Index » Real Estate

Reply to "Genz and millennials don't want your small starter homes want forever homes now"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Rather than climb the ladder we will wait for the forever big home. Sorry please tear down those little homes and ensure you provide recently renovated or new larger homes

https://www.newsweek.com/gen-z-millennials-dont-want-buy-starter-homes-2069778[/quote]

and this attitude by them and the reaction of developers is why you see a home torn down and 2-3 huge and mega expensive townhomes or homes put on the same lot. Hence why those "missing middle" and up zoning proposals in Arlington and Alexandria didn't work. Whenever something was torn down, massive townhomes in 2million+ range were put in their places.

Just look at Del Ray.[/quote]

No this isn’t why. The economic model has changed, drastically. The value is in the land and construction materials/labor has skyrocketed. Developers can’t break even buying a boomer starter home and just Reno/expanding it a little  or tearing it down and building a modern small home. They have to go bigger.

For individual buyers, if the house is a complete tear down , again they will find it makes more economic sense to go much bigger. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics