Millennials have apparently caused the death of chain restaurants, mass produced beer, and the automotive industry…so why not the local housing market, too?
A new study done by mortgage originator LendingTree shows the Sarasota and Manatee County area is the worst-performing metro area in the country when it comes to those 37 and under buying a house.
The study looked at the percentage of the total mortgage applications in an area for those under 37…and millennials made up just 17 percent of all homebuyers.
Local realtors told the Herald-Tribune between the lack of housing inventory, a high median sales price, and the older demographics of the area…it’s not all that surprising.