Millennials (now the largest population group in the US) are currently between the ages of 26 and 41 – historically, the age at which many have made the ceremonial transition to “adulthood” via homeownership.
However, between the pandemic, inflation, and the wildest housing market in years, this generation hasn’t seen the most ideal conditions for purchasing their first home.
And so, we meet the Unmortgaged Millennials — or members of this generation who have never owned a home.
Opendoor asked in their new report, “What would the unmortgaged millennial do to own a home right now… and what’s holding them back?”
Millennial homeownership by the numbers
47% of unmortgaged millennials say they would delay vacations for five years if it meant they could buy a home, and 41% would even delay a wedding for five years. 🏡
44% would say goodbye to their morning coffee runs if it meant they could buy a home —and 35% would miss out on their favorite shows and eliminate all TV.
And you can forget Hinge + Tinder — of those surveyed, two-thirds use real estate apps and a majority browse homes online. Unmortgaged millennials are home-search obsessed, and would rather swipe through interiors of homes than swipe right (or left…) on romantic prospects. 🤳
Knowing how motivated homebuyers are, we dug into Opendoor’s Portland listings to round up 3 different homes that $550K can buy you in PDX.
3 BD, 2 BA | $484,000 | This kitchen is ready for cooking with ample counter space + cabinets for storage, while the main living area features a cozy fireplace.
4 BD, 1 BA | $541,000 | This charming home boasts a kitchen equipped with beautiful cabinets + ample storage along with a cozy living room and good-sized fenced-in backyard.
3 BD, 2 BA | $429,000 | The primary suite is complete with a tub + shower and the fenced-in backyard boasts a large patio, perfect for entertaining.
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