RealShare Panelist Korman Says Millennials Value Renting Over Buying

PHILADELPHIA, PA—Millennials value high quality rental properties more than home ownership, says Bradley J. Korman, co-chief executive officer, Korman Communities, and one of the panelists featured at ALM’s RealShare PHILADELPHIA Conference February 10 at the historic Union League Club.  Korman argues that multifamily property owners and developers should invest in upgrades to their properties to make them more attractive to Millennials and empty-nest renters who want luxury features and upscale amenities.

In comments provided exclusively to GlobeSt.com in advance of his appearance at the conference, Korman says “I’m a firm believer that the apartment market has changed as younger renters come into the workforce.  Their American Dream doesn’t include purchasing a home and staying there for the next 30 years.  The worker in their 20′s is looking to rent a nice apartment, with real amenities, high quality finishes, state of the art technology and they are willing to pay for it.  These millenials value the ability to pick up and move without worrying about selling their house.”