It may just be me, but doesn’t it seem as if the general drift of things is that it’s getting harder and harder to make ends meet? And that younger people are getting the brunt of it?
If that sounds familiar, it could be one generalization that’s no longer quite so valid when it comes to younger adults—specifically, about their prospects for owning their own Costa Mesa homes.
If we are to believe the Pew Research Center, younger American households are doing pretty well. In fact, they’re doing better than their elders were at the same time in their youthful careers. Although you can argue that Costa Mesa homes’ prices have risen as well, when you remember how close today’s home loan interest rates are to historical lows, the outlook for owning Costa Mesa homes is hardly gloomy.
The Washington fact tank’s 2019 study is based on the latest census data. Some of the highpoints:
- Household incomes for those headed by Millennials (ages 22 – 37) are higher than at any time in the past 50 years.
- This is true even after the totals are adjusted for inflation.
- The effect is largely due to women in young adult households being paid more.
- The averages hold true even though slightly fewer young adult households are headed by two earners.
Younger earners aren’t the only ones whose ability to own their homes is looking up. According to the study, Baby Boomers’ household incomes are at record levels, and Gen Xers are matching the previous highs reached by that age group in the year 2000. As for members of the ‘Silent Generation’ (ages 73 – 90), “the income…in this age group cannot be accurately estimated.” It looks like the elders among us know how to keep a secret!
Owning your own Costa Mesa home isn’t just a luxury to be enjoyed now—it’s also the tried-and-true way to build and preserve wealth into the future. We are here to help with any and all of your Costa Mesa real estate endeavors—call!
We are built on a philosophy of Heritage & Hustle. L3 is a full service real estate agency with a regional office located in the heart of #CostaMesa, offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976. It’s L3 mission to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. L3 was originally formed to offer personal, concierge-level service as an alternative to the large, nationally based real estate companies. From its small beginnings of only two employees, L3 has grown to a full staff of 25 serving over 300 clients a year. L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has L3 donated hundreds of hours to many area charities, they have also received the prestige of being named one of the #toprealestatecompaniesinCostaMesa If you’re interested in #buyingorsellinginOrangeCounty, turn to the experts. Turn to The L3 and let them help you make your real estate buying or selling dreams come true. For more information or to get started on finding or selling your home contact The L3 today at 714-444-4663 or email us at email@example.com