Excerpted from HousingWire.com article written by Kelsey Ramirez in January 2017. Read full article here.
Some experts predict that Millennials will be the driving factor of housing in 2017, and others question whether rising interest rates will lock them out of the market.
With over 75 million Millennials, the largest living generation, it is no wonder companies pour so much attention and even resources into trying to understand the new generation.
Bakersfield was listed as the third-largest city in the nation with Millennial home ownership growth. Other cities saw a decrease in home ownership rates among Millennials over the past decade from 40% to about 32%, however the rate in Bakersfield increased by 5.12%. While Millennials delayed longer than other generations before settling down and buying a home, they may finally be ready to move into the market, and more specifically, to Bakersfield!