…and can appreciate what each one of the Sharks brings to the show. However, I do hope that Mr. Wonderful is dead wrong on his Millennial assessment on home buying
Recently, on CNBC’s Closing Bell, Shark Tank investor Kevin O’Leary, also known as “Mr. Wonderful,” said Millennials “don’t give a poo-poo about owning a house.” This thinking couldn’t be further from the truth. Let’s give a few examples to make this point.
1.) In the recent National Housing Market Survey conducted by Fannie Mae, it was revealed that:
“…data indicates that millennial renters today have as much desire to own a home as the general population of renters. According to NHS data, the substantial majority of renters age 25-34 say that owning makes more sense than renting from a financial perspective. A majority also agree that owning makes more sense than renting from a lifestyle perspective. The vast majority of millennial renters tell us they plan to own a home at some point in the future.”
2.) A recent Merrill Lynch report found that 81% of Millennials agree that “homeownership is an important part of their personal American Dream”
3.) The most recent H.O.M.E. Survey explained that 85% of Americans ages 34 and under believe that “homeownership is a good financial decision”.
Kevin O’Leary might be a great white shark when it comes to investing in companies. However, he is just a guppy when dealing with the residential real estate market.