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Jun 19, 2008 10:25 am US/Eastern

Let Generation Y-er Make An Offer You Can't Refuse

Generation Y Is On Target To Dominate In The Next 2 Decades

FORT LAUDERDALE (CBS4) ― The age group born between 1979 and 1994 is second in size only to the baby-boom generation, representing enormous market potential for those in the housing industry as they enter their prime spending years. 

Realtor Kyle Jones is 24 years old. He competes with brokers twice his age for a shrinking pool of homebuyer.  He told CBS4 Reporter Joan Murray,  "Nowadays, people are tech savvy and that's what you need to reach the buyers."

Real estate agents view them as most sophisticated media generation ever, creating their own web sites and making their own CDs and DVDs, something real estate agents need to ensure they're proficient in the use of developing technologies.

Jones added, "I've also got a page on Facebook that has my web site, my occupation. I also market all my listings on Craig's List."

The youngest emerging generation is beginning to make its impression on the real estate marketplace as the industry observes a massive decline over the past three years. 

Realtors believe that this generation doesn't want to wait to have the pool, the home, and everything that goes with it.  It's believed that Generation Y wants to own property before they're thirty.

(© MMVIII, CBS Broadcasting Inc. All Rights Reserved.)

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