Millennials are gravitating towards more expensive markets to chase better jobs with higher wages, while boomers are sailing away from high-cost markets to more affordable ones.
“The millennial generation is the key to a sustained real estate recovery, and boomers who are downsizing are helping open the door for many first-time homebuyers while also driving demand for purchases and rentals in the markets where they are moving,” said Daren Blomquist, vice president of RealtyTrac, in a statement.
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