Quote:
Originally Posted by IrishIllini
Birth rates continue to fall, so while Millennials may be reaching their "prime" child bearing years in a modern context (30-40 would have been considered "old" for your first child a generation or two ago), it seems they're having fewer kids in general. That doesn't scream big house in the suburbs to me, especially when coupled with delayed or interrupted careers and schooling.
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There are all these huge suburban homes occupied by upper class boomers, mostly built in the last 25 years or so. I don't understand who is going to occupy these homes in the coming years.
I don't mean the 3,000, 4,000 sq. ft. McMansion-ish stuff, which is still doable for a couple with 1-2 kids. I mean the 5,000, 6,000 sq. ft.+ homes, alongside the obligatory walk-out finished basement, 3-4 car garage, and heavily landscaped/high maintenance property. They have 5, 6 bedrooms and baths, double furnace, often pools and outdoor kitchens, and everything is reaching replacement age (roof, windows, etc.) while potential buyers are having 2 kids max.
Who wants a home where half the space is guaranteed to be unused? And are there millennials who really think home size is everything, trumping location, construction quality and neighbors? I haven't met them. Even if you could afford it, who wants it?