May 20, 2014 // Franchising.com // MADISON, N.J. - Do kids rule the roost? A new study from Coldwell Banker Real Estate finds that children may be the "Chief Purchasing Officers" of the family. The survey, which was conducted among 2,800 parents across three generations, revealed that 79 percent of Millennial parents (parents age 18-34) and 70 percent of Generation X parents (parents age 35-49) said most of their major purchasing decisions revolve around their children, including home purchases. In comparison, just over half (52 percent) of Boomer parents (parents age 50-69) said this was true when raising their family.
"We have seen a dramatic shift of parents today becoming more involved in their kids' lives," said Dr. Robi Ludwig, psychotherapist and lifestyle correspondent for Coldwell Banker Real Estate LLC. "But now, we are seeing this translate beyond play dates and homework. Parents today are viewing some of their largest decisions through the eyes of their kids, which was not as common 20 to 30 years ago. It is an interesting reflection of how parenting styles may be changing the way we think of consumerism and decision-making."
"Millennial and Generation X parents are choosing to live close to their parents for a variety of reasons," said Dr. Ludwig. "Parents with young children may want the grandparents nearby to occasionally pitch in with childcare, while others may be starting to care for their aging parents. We might want to consider redefining the way we think of the 'Sandwich Generation,' a group traditionally known for caring for their aging parents while supporting their own children. There are many people out there who are not yet established caregivers, but are still basing major life decisions on both their kids and their parents."
The emotional connection to family members has always impacted major life decisions, such as moving to a new home or city, but the Coldwell Banker survey results demonstrate the generational differences between parenting styles.
For parents from any generation with children still living at home, Dr. Robi Ludwig recommends parents consider the following when weighing whether it is time to move.
This survey was conducted online within the United States between March 13-17, 2014 and March 18-20, 2014 among 5,098 adults ages 18 and older (of whom 2,826 are parents) by Harris Poll on behalf of CooperKatz via its Quick Query omnibus product. Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was used to adjust for respondents' propensity to be online.
The complete survey methodology is available here.
Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of approximately 84,900 independent sales associates affiliated with more than 3,100 offices in 49 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand with an iPad app, the first to augment its website www.coldwellbanker.com for smart phones, the first to create an iPhone application with international listings and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker System is a leader in niche markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Coldwell Banker is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.
SOURCE Coldwell Banker Real Estate LLC
Coldwell Banker Real Estate LLC
For Coldwell Banker Real Estate LLC