Real estate prof says market growth depends on 30-somethings

inside-head-millennialsBy Catherine Reagor | The Republic | azcentral.com

Millennials will drive the future of the Phoenix housing market.

That’s what Mark Stapp, director of the Masters of Real Estate Development program at Arizona State University, told a crowd at the Phoenix Market Explained II event Saturday morning.

“The real estate industry was so busy trying to figure out what Baby Boomers want, we weren’t prepared for the even bigger group of Millennials,” he said.

The event, sponsored by ASU’s W.P. Carey School of Business, azcentral.com and The Arizona Republic, dissected housing-market trends and real estate data.

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