Demographics is Destiny

Here’s a timely reminder from Ben Carlson about the future purchasing trends of “millennials”.

I completely agree with Carlson that the “millennials” will grow up and will usher in a new wave of consumption. Heck, they might even decide not to live with their parents. We have been adding US home builders to our equity portfolios on the recent Brexit dip, because I fail to see how Britain leaving the EU will affect US housing demand. However, on a global macro level, lower rates for longer should continue to provide ample incentive to first time home buyers.

LINK: Demographics is destiny