More salaries (we're again talking about older population not millennials etc) means more money being spent. 

I came across this article on CNBC: https://www.cnbc.com/2020/02/28/budget-of-millennial-millionaire-who-saves-80percent-of-his-income.htmlThis guy bought his first house at 23 by using his $19k in savings and a 3.5% FHA mortgage loan ($506k purchase price for the home).

I've been taking massive action...started a podcast with my partner in Houston (Millennial Cash Flow Podcast), and no I am working diligently with a local Dallas broker to get into my first piece of real estate.I found a fantastic value add opportunity in a duplex located 1.5 blocks outside of the Bishop Arts District.

I just listened to your Millennial Investing podcast episode with Scott Trench.

The reason I don't see them appreciating significantly is because they are everywhere, especially in gentrified millennial-y areas like urban Boston.

But if you are waiting for the bottom to fall out of multifamily housing, it isn't. with 4.6 million unit shortage and 90 million millennials entering the rental market and Gen Z right behind them.

construction stops trades move.. vacancy occurs.. also i can see renters especially millennials who are really finally getting it that renting is throwing money away and with the ultra low rates home sales stay robust.

There are more millennials right now capable of buying a house.