Shark Tank Mr. Wonderful’s Faux Pas

February 4, 2016 by Jeff Lowen

Recently, on CNBC’s Closing Bell, Shark Tank investor Kevin O’Leary, also known as “Mr. Wonderful,” said Millennials “don’t give a poo-poo about owning a house.” This thinking couldn’t be further from the truth. Since he didn’t cite any evidence to prove his point, let’s give a few examples to make ours…

1.) In the recent National Housing Market Survey conducted by Fannie Mae, it was revealed that:

“…data indicates that millennial renters today have as much desire to own a home as the general population of renters. According to NHS data, the substantial majority of renters age 25-34 say that owning makes more sense than renting from a financial perspective. A majority also agree that owning makes more sense than renting from a lifestyle perspective. The vast majority of millennial renters tell us they plan to own a home at some point in the future.”

2.) A recent Merrill Lynch report found that 81% of Millennials agree that“homeownership is an important part of their personal American Dream”

3.) The most recent H.O.M.E. Survey explained that 85% of Americans ages 34 and under believe that “homeownership is a good financial decision”.

The moral of the story…

Kevin O’Leary might be a great white shark when it comes to investing in companies. However, he is just a guppy when dealing with the residential real estate market.

Clownfish-Shark-Fin-KCM

Yes, this is a Clownfish disguised as a Shark!

Advertisements
Subscribe Today!

Not a Subscriber Yet? Click Now!

Picture of Jeff

Reach Out To Us!

Call or Text: 703-665-9739

Back Issues

%d bloggers like this: