Survey: Rich millennials want huge luxury homes

Elbow Room
The older affluent are opting to downsize, compared with the vast
swaths of square footage some of their younger counterparts
of means are after – 23 percent of them want at least 20,000. / Source: Luxury Portfolio International
Elbow Room
The older affluent are opting to downsize, compared with the vast
swaths of square footage some of their younger counterparts
of means are after – 23 percent of them want at least 20,000. / Source: Luxury Portfolio International
A new generation of affluent homebuyers powered by a surge in inherited wealth is driving the luxury-home market, demanding larger spaces and fancier finishes, according to a report heralding “the rise of the new aristocracy.” Prospective homebuyers under 50 account for most of those shopping for homes priced at $1 million or more, according to…

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