Tick, tick, tick...Waiting on Millennials to Start the Next Housing Boom

We here a lot about the millennial age group. The 20-and 30-somethings are now the largest demographic group in America, surpassing the Baby Boomer generation. And the economy is becoming increasingly dependent on these young people to work hard and spend those dollars.

Problem is, most of them are delaying getting married, starting families, BUYING HOMES, and living the aspirational suburban life. Once the first domino falls though, watch out!

Indeed, the next housing boom will be triggered by millennials. And when that happens, we should see great growth in the entire economy. But it just may be a few years away.

We find it easy to estimate that the current new homebuilding pace of 629,000 units in 2016 will grow to a 1.5 million unit run-rate within five years. This would truly be a boom and could carry the U.S. economy along with it.
— William Smead, CEO of Smead Capital Management

For full analysis from Business Insider, click here.

Dawnita Parmely