{"id":7976,"date":"2018-02-01T00:00:00","date_gmt":"2018-02-01T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/millennials-most-diverse-generation-in-history\/"},"modified":"2018-02-01T00:00:00","modified_gmt":"2018-02-01T00:00:00","slug":"millennials-most-diverse-generation-in-history","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/millennials-most-diverse-generation-in-history\/","title":{"rendered":"Millennials Most Diverse Generation in History"},"content":{"rendered":"

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The millennial generation is the most diverse in American history. Minorities make up 44 percent of the more than 75 million millennials living in the U.S., according to a new report from Brookings Metropolitan Policy Program, \u201cThe Millennial Generation: A Demographic Bridge to America\u2019s Diverse Future.\u201d\u00a0<\/p>\n

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By the mid-2040s, racial and ethnic minorities are projected to make up more than half of the nation\u2019s population. \u201cThis means that millennials will pave the way for the generations behind them as workers, consumers, and leaders in business and government in their acceptance by and participation in tomorrow\u2019s more racially diverse America,\u201d demographer William Frey writes in the report.<\/p>\n

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Learn More<\/strong><\/p>\n

Be Prepared for Consumer Diversity<\/p>\n

NAR Diversity Toolkit for\u00a0REALTOR\u00ae Associations<\/p>\n

Brush Up: At Home With Diversity Courses in Real Estate<\/a><\/p>\n<\/blockquote>\n

Their entrance into homeownership may be different than previous generations, the report notes. The last housing<\/a> crisis occurred right before millennials entered the market, and that has limited their ability to attain ownership compared to earlier generations. Debt and low savings prompted more millennials to move in with their relatives or become renters. Differences were found among ethnic groups, too.<\/p>\n

While all racial groups posted declines in homeownership during the housing crisis, blacks and Hispanics saw the highest number of decreases. \u201cThis delay in homeownership may be robbing millennials of a head start toward a traditional means of wealth accumulation,\u201d Frey notes in the report.\u00a0<\/p>\n

Both blacks and Hispanics have had lower homeownership rates than whites and Asians, but the divide for blacks, especially, has widened more recently. For older millennials in 2015, there were still significant disparities in homeownership across racial groups, ranging from 56 percent for whites to 33 percent for blacks. Asians were at 43 percent and Hispanics at 37 percent.<\/p>\n

Blacks and Hispanics have been found to have lower savings and credit, and are less likely to obtain financial support from family members when compared to their white counterparts, the report notes.<\/p>\n

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Some states and metros are attracting greater diversity among their millennial population. For example, racial and ethnic minorities make up more than half of the millennial population in a handful of states, including California, Texas, Arizona, Florida, and New Jersey. On a metro level, McAllen, Texas\u2014where whites account for just 4 percent of the millennial population\u2014is the most diverse in the country. Miami, Houston, New York, Atlanta, Chicago, and several California cities (including Los Angeles, Riverside, San Jose, Stockton, and Fresno) are \u201cminority white\u201d as well.<\/p>\n

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Source: \u201cThe Millennial Generation: A Demographic Bridge to America\u2019s Diverse Future,\u201d Brookings Metropolitan Policy Program (January 2018)<\/em><\/p>\n<\/div>\n

Realtors <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The millennial generation is the most diverse in American history. Minorities make up 44 percent of … Millennials Most Diverse Generation in History<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7977,"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":[518,12908,543,627,344,1007,41,818,479,15282,15309],"class_list":["post-7976","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-america","tag-home","tag-home-buying-guide","tag-homeowners","tag-housing","tag-owners","tag-property","tag-real","tag-realtor","tag-ross","tag-ups"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/brookings_diversity.png?fit=796%2C344&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":33210,"url":"https:\/\/amazingproperty.com.ng\/blog\/why-youre-not-closing-millennial-buyers\/","url_meta":{"origin":7976,"position":0},"title":"Why You\u2019re Not Closing Millennial Buyers","author":"Amazing Property","date":"March 14, 2022","format":false,"excerpt":"Millennial Buyers , Have you ever been ghosted by a millennial buyer? Have you ever been ghosted by a millennial buyer? That is, you met a prospective buyer at an open house who seemed excited and serious about the property. You set a followup meeting over coffee to discuss next\u2026","rel":"","context":"In "Realtor"","block_context":{"text":"Realtor","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/realtor\/"},"img":{"alt_text":"millennial buyer","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2022\/03\/millennial-buyer.jpg?fit=1024%2C684&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2022\/03\/millennial-buyer.jpg?fit=1024%2C684&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2022\/03\/millennial-buyer.jpg?fit=1024%2C684&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2022\/03\/millennial-buyer.jpg?fit=1024%2C684&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":6965,"url":"https:\/\/amazingproperty.com.ng\/blog\/proof-that-we-jumped-to-conclusions-about-millennials-and-home-buying\/","url_meta":{"origin":7976,"position":1},"title":"Proof That We Jumped to Conclusions about Millennials and Home Buying","author":"Amazing Property","date":"November 7, 2017","format":false,"excerpt":"Ever since the millennial generation reached adulthood, demographers and social scientists have been exploring the many trends that set this younger generation apart from their parents and grandparents. 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