Millennials Are Behind The Real Estate Push, Supercharging The Housing Market

Economists expect them to bolster demand for years

A sale pending sign is displayed outside a residential home for sale in East Derry, N.H. (AP Photo/Charles Krupa, File (AP Photo/Charles Krupa, File / AP Newsroom)


Alex and Michelle Angert lived the last years of their 20s without a permanent address. They moved out of a small Manhattan apartment in 2018 to stay in short-term rentals around the U.S. before embarking on a yearlong honeymoon to travel the world, starting in the Philippines.

When the pandemic cut their travels short last year, Mr. Angert, 31, decided to take a job in public relations in Richmond, Va. He and Mrs. Angert, who is also 31 and works at a healthcare tech company, started house hunting this spring. After losing out on multiple offers, they raised their $400,000 budget. In July, they plunked down $635,000 on a three-bedroom ranch in a tree-filled lot near a Richmond country club.


“I would have had all of these regrets in life if I didn’t travel,” Mr. Angert said. “But it feels like the right time to settle down and put down some roots.”


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