The Baby Boomer generation had a huge impact on the antiques industry, and the similarly-sized millennial generation has the potential to do the same, if they ever start buying houses. Warren Buffet has been waiting for it for quite a while, and two headlines caught our eye this week. First CNNMoney reports that a millennial-driven housing boom is coming. The report follows a Harvard study that anticipates 24 million new housing units. And hey, all will need furniture including antiques.
But this is a boom still in the coming, not in the happening. And in a we could of told you that moment, Housingwire and others reported Millennials not buying houses…yet. Interestingly enough the disparate headlines originate with the same Harvard study.
It may not be that millennials don’t like antiques, it could be that they don’t yet have a place to put them.