A recent Wall Street Journal article blew holes in the “conventional wisdom” that Millennials prefer to rent and are shunning home ownership.
Using data from a variety of sources, notably CoreLogic, a California-based company that specializes in housing data, the article demonstrated the exact opposite to be true – even in today’s overheated housing market.
CoreLogic’s research showed that Millennials accounted for 67 percent of the mortgage applications from first-time homebuyers in the first eight months of 2021, and 37 percent of the applications from repeat purchasers. And this came after a year in which applications from Millennials accounted for more than half of all mortgage applications for the first time.
Various economists and analysts quoted in the story don’t see that trend reversing itself anytime soon, given
As the home furnishings business continues to show strength in the midst of a global pandemic that refuses to die, the proverbial $64,000 question needs to be asked. How much longer will the good times continue?
Based on our very unscientific survey of key industry executives and a perusal of recent financial reports from the industry’s public companies, the answer sounds very promising. Most believe consumer demand for furniture will remain strong through at least the first half of 2022 – and some think it will last even longer.
And more importantly, no one is predicting that demand will suddenly nosedive – despite the possibility that the newly discovered omicron variant will keep the pandemic top-of-mind for an indefinite period.
Several executives told us the pandemic has led to a fundamental change in consumer behav