There are certain milestones that we were all expected to achieve a few decades ago to indicate that we are successful adults and a few of them still apply to this day. This includes things like graduating, getting a car, finding love, have kids and then start a life together in a house in the suburbs. While this might have been the ideal life 2-3 decades from now, that is no longer the case. The biggest deviation from this scenario is the fact that very few people are now buying houses.
This shift in housing trends is no surprise following the housing crisis and market crash of 08’. A lot of people are still scared of another potential crash so they still stay wary of houses. At the same time, people who can still afford to buy houses are voluntarily opting out of them, and this is because they do not see any appeal behind owning a house, and in fact, only find houses to be unnecessary and burdensome to deal with. In fact, according to different surveys and analyses, millennials are voluntarily choosing to stay in apartments or condos even when they can afford a house.
This shift in real estate trends is quite interesting and has left a lot of experts confused. However, it ultimately comes down to the changing needs of a generation and the different environment they are exposed to and used to, and condos and apartments are now what best meets their needs. In case you happen to be looking for condos yourself, Azura Condos is a new condominium project that is currently open for bookings, so you can book a tour today and give the floorplan a quick check so that you have more potential options to choose from.