These young Americans were born between the years of 1982 and 1995. They are following the “Baby Boomer” generation and are now at the age where real estate and housing is a priority for them. The idea of the”American Dream” looks very different for Echo Boomers than it did for their parents the “Baby Boomers”.
In the Old school way of thinking, owning a home was a top priority for young families. For some reason, there was an extra sense of security if you owned a home. Even though the bank was the real owner, having a mortgage statement with your name on it was something to be proud of.
In my opinion, the Echo Boomers have the right idea. They have no mortgage commitment which gives them the freedom to pack up and move on whenever they feel like it. They also prefer to live in more social areas as opposed to living in the suburbs. In USA Today it is said that only 20 percent of Echo Boomers believe owning a home should be a top priority.
This young group is all about having freedom and let’s face it homeownership is about as far from freedom as you can get.
Orlando Realtors Face New Challenges
The majority of this group will prefer to rent a home as opposed to buying. However, 20 percent of Echo Boomers will still pursue buying as a first option. Because of the expectations of this new generation of home buyers, Orlando real estate agents will have to adjust and specifically appeal to what’s to this demographic. Echo Boomers prefer to walk or ride their bikes whenever possible which means they are attracted to neighborhoods with nearby shopping, restaurants, trails, etc.
Another characteristic of this group is that they don’t like to stay at the same job for more than 2 years or so in order to survive, they need to be in a market that presents new career opportunities for them. Realtors targeting this group would be wise to embrace the same tools that they use to communicate these days, especially social media.
Chances are that when an Echo Boomer needs to hire a realtor, they will probably choose an agent that is active across the main social media sites.
