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Homeownership remains a major goal for Americans, with almost three-quarters considering a home a good investment, according to a recent Urban Land Institute (ULI) report. A nearly identical percentage anticipates becoming homeowners in the next five years.
The report found about half of Millennials and Gen Xers expect their next home to be larger, while approximately three-quarters of Baby Boomers and War Babies (members of the Silent Generation) expect their next home to be smaller or of equal size to their current home. Single-family detached homes are the preferred future housing choice for all generations, but the report reflects growing expectations for duplexes or townhouses, particularly among Millennials.
The report also indicated preferred community attributes, including:
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