Article by Wendy Mccance
Yesterday I went to a class that I was required to take as a new Real Estate Agent. I had just signed up to be a member of the National Realtors Association a month ago and this was the orientation class.
The class was completely filled up and there were three other people I knew from the office who were also in the orientation class with me. In the class we discussed ethics and navigation of some different websites. The class was long and rather dull, until the teacher started discussing the difference buying habits of different generations of people.
What she mentioned was not only interesting, but so relatable, I thought I would share it with you.
People in their 60’s: These are the people who grew up learning how to cut coupons, sew clothing and in general pinch pennies. You can expect to see a drawer of saved bread bags, used cool whip containers for storing food and a freezer packed with meals that are labelled and ready to cook for a meal. Homes were comfortable with the emphasis on having a dining room, the untouchable living room for company only, and the family room.
People in their 50’s: These are the people who had to buy and buy big. They bought the mcmansions, took the vacations, ran up the credit cards and competed to keep up with the neighbors. 17% interest rates didn’t matter. They wanted all the things they never had growing up.
People in their 40’s: These are the people who tried to have it all and then the economy tanked. Going back to school became a popular option as people had to go out and reinvent themselves. These were the people who had quite a bit and then lost almost all of it when the economy nose-dived.
People in their 30’s: These are the kids who grew up having everything. The parents made sure that their children were spoiled and living well. These kids are the generation that are still ok buying the big homes. Having a two-story foyer that sucks up a lot of the utility costs trying to heat or cool it doesn’t concern them. A $400.00 utility bill is par for the course.
People in their 20’s: These are the cautious kids. They watched their parents go from everything to nothing. These kids are very environmentally savvy and want their homes to have tech items like solar panels that can save them money. These kids are taking their time moving out of their parents homes. When they do move out, they are cautious with their money and aren’t looking for a big place. These kids will not be house poor. A small home with a smaller house payment is what suits them.
Hope this post was relatable and fun to read and compare to your own experiences. 🙂
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