It’s no secret that Millennials are called ‘The generation of renters’ but a surprising report by CNN Money showed that in the past year they were the largest group to buy homes in the US.
No, Generation Y is changing their philosophy and putting down roots. They’re starting to buy homes because of their four-legged friends. In a recent survey conducted by Harris Poll and SunTrust Mortgage showed that 33% of younger buyers were motivated to purchase better living space or a yard for their dog.
The Harris Poll and SunTrust Mortgage survey results:
“Millennials have strong bonds with their dogs, so it makes sense that their furry family members are driving home-buying decisions,” said Dorinda Smith, SunTrust Mortgage CEO. “For those with dogs, renting can be more expensive and a hassle; home ownership takes some of the stress off by providing a better living situation.”
Millennials love their dogs! They’ve bucked most traditions and social norms, often marrying much later in life (if at all). But one area that they’ve surpassed Baby Boomers in is pet ownership; 59% of Millennials aren’t married, but they’ve surpassed Baby Boomers in pet ownership this year!
If you are a Millennial, What kind of home would you buy for your dog? Share with us!