Kids Reign as New Chief Purchase Officers

New Coldwell Banker research indicates that children factor heavily into purchase decisions among today’s house hunters. According to the survey, 79 percent of parents from the Millennial generation and 70 percent of Generation X mothers and fathers said their kids are instrumental in most of their purchasing decisions — including home buying. By contrast, just 52 percent of Baby Boomer parents said their decisions revolved around their offspring. And only about 54 percent of Boomers said they are more concerned about the impact of a move on their children, compared to 67 percent of Millennials and 64 percent of Gen-Xers. “We’ve seen a dramatic shift of parents today becoming more involved in their kids’ lives,” remarked Coldwell Banker lifestyle correspondent Robi Ludwig. “It is an interesting reflection of how parenting styles may be changing the way we think of consumerism and decision-making.” Coldwell Banker also found that many more Millennials and Gen X parents are living closer to their parents — some of whom may be able to help with childcare, and some of whom are aging and are in need of care themselves. | Read More