Young homebuyers are looking at real estate to generate more income, not necessarily as a home they want to live in. According to a recent survey by Mynd, 43% of adults under 40-years-old are “are considering becoming ‘rentvestors,’ who continue to rent their own home while shoring up income from an investment property.” Only 9% of Boomers and 27% of Gen X are doing the same. Young adults are optimistic about real estate’s longevity and view these investment properties as a place that will exist alongside their future primary residence. Plus, these types of investments are giving them more freedoms, Mynd is seeing an increase in “remote investors” who manage properties outside of their home states. YPulse research shows that investing is in Gen Z and Millennials’ top ten financial goals—and they’re getting more advice on reaching that goal with more “finfluencers” dominating their social feeds. (NAR)
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