Half of high-income millennials ages 30 to 34 fear they’ll have to work forever because they won’t be able to save enough to retire.That’s one take-away from a recent study that focused on high-income millennials, those with a minimum annual income of $100,000 for single people or $150,000 for married or partnered millennials. The survey was conducted by the Spectrem Group, a wealth advisory company, and offers insight for the demographic that came of age during America’s worst economic crisis since the Great Depression. In particular, millennials that are now 30-34 years old — meaning that they likely graduated from college in the depths of the downturn, when hiring in many industries had dried up — are the most cognizant of or concerned about finances.
The increase in mortgage transactions is a very positive sign. It demonstrates more end users are buying, which will help stabilize the market as long-term buyers or investors are displaying confidence to invest in real estate.