Echo Boomers to Shape Housing Market for Next 2 Decades

The National Association of Realtors predicts that the echo boomer generation, comprising 62 million individuals between 17 and 31 years of age, will drive the housing market over the next 20 years. However, it remains to be seen whether this demographic can save the residential property market, as its members have been hit hard by unemployment and carry high levels of student loan debt. NAR chief economist Lawrence Yun believes the economy and unemployment rate should improve with a few years, noting that as long as people have jobs, they can repay student loans. Until then, experts say echo boomers will rent — although recent surveys indicate that homeownership remains a goal for most Americans. | Read More