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Generation Y? Younger Americans have purchasing power of more than $200 billion a year, influencing as much as half of all spending in the economy. Recent research shows how persuasive the 82 million voices in Generation Y are in making purchasing decisions on everything from food, to clothing and cars, and now, even homes.


In 2011, US News reported that the “great reces- sion” meant a diminished American Dream for young adults, suggesting that the economic downturn and high unemployment would profoundly impact major life decisions and limit choices for people in their 20s and 30s. Fast forward to 2013, and with interest rates remaining low and the job market steadily recovering, these young people (also referred to as Millennials), are starting to make larger life choices again. Tere are lots of sources quoted here who are talking about it:


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According to a recent Harris Interactive survey by MortgageMarvel.com, among Americans ages 18 to 34, a total of 41 percent displayed an interest in buying a


home this year. Of those in this age group who displayed an inter- est, 17 percent of men and about 6 percent of women see their finances as shaky but still think they can swing buying a


home in the near future.


A new report issued by the National Association of Re- altors, says Millennials now compose the second-largest group of recent home buyers, making up 28 percent of the pool. (“Generation X,” the age group just slightly older, ranks first.)


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Wall Street Journal reports: “Tese young techies are often making big real-estate leaps too, jumping from a modest monthly rental to a large home in a single step, rather than purchasing the starter home that was a home-buying hallmark of other generations. Familial assistance, even at more modest levels, has boosted the purchasing power of younger buyers, brokers say. Parents are helping their children make purchases more often than ever. Tis may in part be because keeping their retirement funds in bonds or money-market accounts yields lower returns than in previous decades.”


A study of the wealthiest 10 per- cent of Americans conducted by American Express Publishing and the Harrison Group pointed out that the parents of this generation are baby boomers, who are near retirement age and are also passing along more money to their children than prior generations. Teir study found that while 24 percent of Millennials have grown up wealthy, only 7 percent of Baby Boomers and 9 percent of Gen X Americans report growing up rich. Te report cites, “For the first time


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