Part 2/8:
A pivotal demographic—Millennials—are reportedly stepping away from purchasing properties that involve living in closely packed condominiums or apartments. The fear is that these younger generations are unwilling to pay what they perceive as exorbitant fees while lacking control over rising costs. Many Millennials are looking for stable, individualized living situations instead of places governed by HOA regulations that dictate various aspects of their homes. The idea of living under strict regulations is increasingly becoming a turn-off, and the real estate community may need to adjust its approach to attract this generation.