{"id":1701,"date":"2017-03-08T00:00:00","date_gmt":"2017-03-08T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/generation-x-flexes-its-purchasing-muscles\/"},"modified":"2017-03-08T00:00:00","modified_gmt":"2017-03-08T00:00:00","slug":"generation-x-flexes-its-purchasing-muscles","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/generation-x-flexes-its-purchasing-muscles\/","title":{"rendered":"Generation X Flexes Its Purchasing Muscles"},"content":{"rendered":"

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Millennials and baby boomers often steal the spotlight in real estate<\/a>. But Generation X says it\u2019s time for the housing<\/a> market to pay more attention to them instead. Gen Xers are the only generation to purchase more homes last year than they did the previous one, according to the National Association of REALTORS\u00ae Home Buyer and Seller Generational Trends survey.\u00a0<\/p>\n

Gen Xers, aged 37 to 51, made up 26 percent of home buyers in 2015, but grew that percentage to 28 percent in 2016.\u00a0<\/p>\n

\u201cThat group suffered the most\u201d in the last recession, says Jonathan Smoke, chief economist of realtor<\/a>.com\u00ae.\u00a0\u201cThey were entering homeownership at the peak of the housing bubble and were also the ones most likely to suffer job losses.\u201d During the crisis, many in the generation saw their homes go underwater as they owed more than their home was worth.\u00a0<\/p>\n

But things are finally turning around for Gen Xers. The economy is stronger, housing values are up, and the job market is strengthening. Their incomes are up as well. Buyers earned a median of $106,600 a year, according to NAR\u2019s survey. (Younger baby boomers, aged 52 to 61, earned $93,800 and millennials, aged 36 and younger, earned $82,000.)<\/p>\n

\u201cNow, they\u2019re actually in\u00a0their prime earning years,\u201d Smoke says. \u201cAnd they\u2019re also far more likely to have families. It makes complete sense that they\u2019re coming back.\u201d<\/p>\n

Generation X is the largest generation that has kids still living at home. As such, they\u2019re moving for a better school district or finding a home that has enough bedrooms to accommodate their children, says Jessica Lautz, NAR\u2019s managing director of survey research.\u00a0<\/p>\n

Still, Gen Xers may be buying more than they have in the past, but they aren\u2019t the generation who is buying the most homes today. Millennials purchased about 34 percent of the homes on the market in 2016, according to NAR\u2019s survey. They purchased the lowest-cost homes compared to the other generations\u2014millennials home purchases had a median of $205,000, while Gen Xers spent the most on their home purchases at $261,000.\u00a0<\/p>\n

Source: \u201cGuess Which Generation Is Making the Biggest Comeback in Real Estate<\/a>,\u201d realtor.com\u00ae (March 8, 2017)<\/em><\/p>\n

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Millennials and baby boomers often steal the spotlight in real estate. But Generation X says it\u2019s … Generation X Flexes Its Purchasing Muscles<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":1702,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[4751,1403,15239,12908,543,627,127,344,1007,41,818,84],"class_list":["post-1701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-buy","tag-chase","tag-home","tag-home-buying-guide","tag-homeowners","tag-homes","tag-housing","tag-owners","tag-property","tag-real","tag-real-estate"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/eg1-r1-pFtw","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3500,"url":"https:\/\/amazingproperty.com.ng\/blog\/forget-millennials-gen-x-is-driving-the-market\/","url_meta":{"origin":1701,"position":0},"title":"Forget Millennials: Gen X Is Driving the Market","author":"Amazing Property","date":"April 17, 2017","format":false,"excerpt":"Millennials may often get all the attention, but members of Generation X are really the ones who have been driving the housing market lately. Gen Xers, who are between the ages of 37 and 51, make up the second largest share of home buyers, comprising 28 percent in 2016, according\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1623,"url":"https:\/\/amazingproperty.com.ng\/blog\/bank-of-mom-and-dad-helps-first-time-buyers-drive-market\/","url_meta":{"origin":1701,"position":1},"title":"Bank of Mom and Dad Helps First-Time Buyers Drive Market","author":"Amazing Property","date":"March 6, 2017","format":false,"excerpt":"Despite rising price houses across Canada and much concern about affordability in hot Ontario and British Columbia markets, young people are still buying homes. 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