Generation Y, the Echo Boomers, are coming of age and that means changes for the housing market as they enter it.

As far as numbers, Gen Y is second to the Baby Boomers, with approximately 76 million between the ages of 15 and 28, and according to Census figures, 67.2% of them can be expected to become homeowners by their mid-30s, more than 35.5 million households.

With so many entering the market and with only 500,000 housing units being developed each year, it's likely there will be a shortage of affordable housing for these Gen Y buyers.

They're also the most high-tech generation, meaning they'll likely find their new home or agent through Twitter on the iPad, and they'll want their homes to have adequate space and energy sources for their gadgets.

Read more at Inman News and get more information about the Generation Y markets from MarketResearch.com.

Posted in Real Estate Market Conditions, Real Estate Industry Trends, Gen X-Y

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