Energy and Millennials are Impacting Housing Markets

Energy and Millennials are Impacting Housing Markets

At the 2014 Realtors Conference & Expo a talk hosted by Lynn Capital Management, an industry expert, stated the potential for an increase in the housing market.  This would benefit realtors and moving companies who are all looking for an increase in the movement of people and businesses. Lynn Capital Management attributes much of this increase to energy production, job creation, and millennials entering the market.

A number of different factors affect the housing markets, and these factors have lead to the number of house purchases falling in previous years. However, this trend seems to be reversing with more people finding job security, which allows for a long-term mortgage commitment and permits people to purchase their first homes. Lynn Capital Management doesn’t share the same view of many critics, who believe that the housing markets in natural gas producing areas will disappear if the resources are depleted.  The continued progress in this sector will bring jobs for many years.

Typically, young adults slowly move onto the property ladder making their way up the housing market chain. Unfortunately, with an unsteady job market and fewer jobs to go round, the housing markets is dominated by older individuals.  Also how people view the commitment of home ownership and the need to move has changed.

In America, it has been those towns which have poor job prospects that have seen the worst hit housing market. Things seem to be turning around though with an increase in the potential jobs, giving these once nearly deserted towns the ability to thrive.

The agricultural and the manufacturing industries are making a comeback, which increases opportunities available in these once hard hit towns and cities.

Therefore, the moving sector is looking more promising in the future with the potential to see young adults break into the property market.   They will be taking their first tentative steps to a new world of home ownership instead of the rental markets according to some experts in the field.  Only time will tell if the predictions are right.