This article is reprinted by permission from The Escape Home, a newsletter for second homeowners and those who want to be. Subscribe here. © 2021. All rights reserved.
What Benloch Ranch represents is a collision of trends in real estate and demographics. Millennials of homebuying age are rejecting the sizes of their parents’ homes, so-called cookie-cutter McMansions. And the second-home market, hastened by COVID and the same millennial-buying population, is booming. The pandemic has forced buyers to value outdoor spaces and activities more than ever before. Benloch Ranch currently has a waitlist of 175 for its single-family lots.
“Everything out there is the same old house, over and over again,” Mackay added. “We’re bringing a more Scandanavain, European style. The whole idea, he added, was to cater to the millennial buyer, as that demographic is the biggest buyer of homes right now, according to Realtor.com’s housing market predictions.
Mackay’s timing was impeccable. Park City real estate, like in many resort towns, has seen unprecedented demand since COVID-19, particularly among younger people fleeing their cramped apartments in places like New York City, Chicago and San Francisco. “There really is nowhere like Park City,” said Mark. One of its main draws, he said, is its proximity to Salt Lake City International Airport — a 30-minute drive. Many other popular resort towns are hours from the closest large airport. Plus, he added, Salt Lake City is home to the world’s largest Costco.
wow
Ones with boatloads of cash 🙄
Millennials
Yeah me neither (Doh!)
Boomers can’t sell overbuilt monster vacation homes. Why is this a millennial problem? 🙄
Millennials can afford vacation homes? I can barely afford my one home. WTF am I doing wrong?
I see a ton of millennials buying their vacation homes that are McMansions. Stop spreading lies
Hmmm, l thought that millennials can't afford to buy a house to live in, but they can afford designer holiday homes?
Vacation home?
They should spend their money on retirement savings. Stop spending on “things”. I guess they want to work until 65 or be lucky employer doesn’t get rid of you in your 50’s. Ask baby boomer how recession hit them.
I guess they aren’t mcloving it :(
Yes we do
Millennials can't afford vacation homes to be McMansions Fixed it
I’m a millennial that wants a mcmansion
Millenials cant even pay rent 🥴
Millennials dont have vacation homes.
nice
Lmao 😂 well that’s stupid!
Holiday Holiday Latest News, Holiday Holiday Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: StyleCaster - 🏆 104. / 63 Read more »
Source: CNBC - 🏆 12. / 72 Read more »