In recent years several factors have made it possible for Millennials to skip the condo phase and jump right into luxury real estate. One example is Matt Winter, a young entrepreneur with an interior design firm, who bought his first million-dollar-home at the ripe young age of 26.
Now, at 28, Matt purchased his second California luxury home for 1.7 million. He states that he feels real estate is a safer investment than stocks, and he would rather put his money there.
This is true for many millennials, having entered the job force during a market correction. Matt and his peers are understanding the value of investment properties from a young age.
Michael Rankin, real estate agent with TTR Sotheby’s International Realty in Washington, D.C, states that in the last two months “half the folks [he] sold homes to were young entrepreneurial types – and they were all buying homes for over a million dollars.”
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