Letter from a millennial: We're not going to buy your house

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Source: Baltimore Business Journal
Author: James Briggs
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Date Published: 06/19/2013

If you’re a homeowner, there has been a lot of great news for you lately — namely rising home prices, lack of inventory and bidding wars among increasingly desperate buyers. Although the housing market isn’t on fire like it was in the early 2000s, it also isn’t imploding like it was in 2009. All in all, if you’re looking to sell a house now, you should feel thankful about your timing. But take heed, baby boomers and Generation Xers. If you’re planning to hold onto your home for years to come, don’t count on my generation — the millennials — to buy it from you.