Millennials are approaching 40 and want to leave cities and own homes. Since a lot of us have waited this long as renters makes sense to build a bespoke one how you want it, in a good location.
This is all part of the same trend.
Another story on what's happening. This is what my wife and I are planning to do as well. You can work from anywhere now physical offices are antiquated, if your management team doesn't understand this -- so are they. Best talent is global not in backyard.
But re: first tweet in thread most moves won't be new builds that's just small niche. Majority will be buying property already on sale in smaller cities such as Columbus, Austin, Raleigh, Denver, etc. They're such wonderful places to live and actually affordable for millennials.
If you don't think this is going to be an accelerating trend, exodus from SF / NYC, then you're not looking closely enough at the picture here from a demographic and psychological standpoint of 30-somethings in cities. $z sees it, just raised a billion to try and catch opendoor.
One more tweet to think about: this trend is healthy for America in all ways possible. Every well paying gig localized in like 2 markets is an insane situation and clearly unsustainable. Alleviating pain locally & presenting opportunity x-country spreads prosperity. Win for US.
More data on this.
Millennial here who literally just went through design center process with $tmhc. Confirmed true. Hooray am part of a trend. Was also early cord cutter with $nflx early ads user with Google etc. Here for all your elder/leading indicator millennial takes. https://www.google.com/amp/s/www.cnbc.com/amp/2019/09/26/taylor-morrison-sees-an-uptick-in-one-home-buying-group-millennials.html …
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