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Millennials and Multifamily Demand

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Ivan Kaufman discusses how millennials have been a significant driver of urban apartment demand, especially in the country’s gateway markets. But is a shift in store with Millennials and their housing needs and location preferences? Will there be an increase in homeownership as a result? Find out in this video clip exploring the Millennial demand phenomenon.

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Millennials and Multifamily Demand

  1. 1. Millennials & Multifamily Demand by Ivan Kaufman ARBOR.COM • 1.800.ARBOR.10
  2. 2. Ivan Kaufman’s Real Estate Market Overview • People are getting married later, so the household formation is arriving later and people are renting. • People don’t mind smaller living areas, they just want to be located in urban centers. Key Takeaways – Household Formation
  3. 3. Ivan Kaufman’s Real Estate Market Overview • Initially, post-recession, is was very difficult for consumers to obtain a single-family home loan. That trend is now shifting for the better. • The affordability index is at one of its best levels ever. • Between the affordability homes, low interest rates and the agencies easing their underwriting standards, more individuals can now afford homes. Key Takeaways – Housing Affordability
  4. 4. Ivan Kaufman’s Real Estate Market Overview Housing Affordability Index United States, Monthly, Not Seasonally Adjusted Source: Arbor, National Association of Realtors 50.0 90.0 130.0 170.0 210.0 250.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Housing Affordability Index (Composite)

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