Housing Giants - April 24, 2008 - (Page 27)

Steven Kleber, founder and president of Kleber & Associates, explains how the characteristics of each group play into one another. “The CPO, regardless of age, is confident, skilled and measured in her decision-making ability,” says Steven Kleber, founder and president of Kleber & Associates. “She understands that receiving input about her decisions is vital, and she often relies on advice or input from someone important to her. The CPO is an experienced negotiator and uses her skills effectively to obtain the best possible deal.” Generation Y women are the only significantly growing home-buying demographic group today, Chung says. This is largely due to this group’s increasing education level, which leads to greater purchasing power. “Generation Y women in terms of education are clocking the guys,” Chung says. Women in their 20s are making equal to or 120 percent of the wages of men of WWW.HOUSINGGIANTS.COM the same age in areas where there is a largely educated population, he says. As a result, Generation Y women are more likely to buy homes while single than previous generations of women. “Their parents are huge believers in home buying, and for that matter, are subsidizing those purchases,” Chung adds. IMMIGRANTS: A KEY COMPONENT OF FUTURE HOME BUYERS With the white, native population in the U.S. growing only slowly, much of the nation’s population growth is due to immigration. Recent immigrants and their children will buy even more new homes over the next couple of decades. More than one-third of the growth in the number of American households is due to growth in the immigrant population. Although still concentrated in a handful of 4.24.08.HOUSING GIANTS 27 http://WWW.HOUSINGGIANTS.COM

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Housing Giants - April 24, 2008 Contents Viewpoint News and Moves Sell Workforce Housing The New Housing Demographics

Housing Giants - April 24, 2008

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