fellow millennial here, so happy to see someone who has the same thoughts as I do.

Today’s housing market is defined by strong demand driven mainly by millennials and low interest rates and low supply as a result of decades of under-building.

Get the upside of inflation through rental and price appreciation without putting yourself in a liquidity crunch if the unexpected happens.I agree that inflation is likely to run hotter than it has over the last 10 years, and residential housing will likely run above overall CPI for at least the next 5 with the strong demographic support from Millennials moving from apartments to single family homes, but I would not expect 5%+ inflation for very long. 

That plus so many government induced barriers to free enterprise through over-regulation, millennials don't see the opportunity for upward financial mobility the way previous generations did.

It looks like all those millennials finally moved out of their parents basements, haha.

It is a downtown place which 'could' attract more millennials, so I chalked it up to that....

While I really only go to Top Golf, many of the millennials and zoomers I know play almost every weekend.

@Jason Malabute the typical over construction issues of being late in the cycle that you mention have been slowed by pandemic and supply chain shocks.Another factor supercharging Liquidity and the real estate market is you have the two largest population groups in us histoey both seeking real estate at the same time: boomers for downsizing, millennials for starting.

Another reason is that Millennials, which is the largest generation (including approximately 72 million Americans), came to the home buying age and started buying homes in droves.   

I have found that AIR (generally) is used by a younger crowd - not all millennials, but that gives you the idea.