From 2020 to 2021, interest rates plunged to historic lows, opening up opportunities for prospective buyers to grab homes at amazing prices...if bidding wars didn't drastically drive up those prices first! While house prices have since stabilized, interest rates then rose to record highs, once again leaving the American Dream out of reach for so many.
Amongst those finding themselves priced out of traditional homes are Millennials and Gen Zers (or the "MZ" Generation), people who were formerly eager to put down roots but are now left wondering what alternatives they have. And as it turns out, one of the more popular options that have emerged is living full-time in an RV!
How RVs Became a Housing Choice for the MZ Generation
Living full-time in an RV, of course, isn't anything new — but the stereotype is usually retirees taking advantage of that lifestyle. With more younger people than ever opting for full-time RV living, it's worth looking into why MZers do it and why it makes sense beyond financial reasons!
RVs Cost Less Than a House
Of course, the cost of traditional housing rising faster than wages in many areas has been one of the main catalysts for Millennials and Gen Z people taking up the RV life full-time.
Even when accounting for the purchase price, regular maintenance costs, repairs, and campground fees, there can definitely be cost savings to investing in an RV rather than tying oneself to a fixed property.
But cost isn't the only reason MZ individuals increasingly look to RVs to fulfill their housing needs; there are several lifestyle aspects to the RV life that MZers are generally in tune with.
It Provides Maximum Flexibility
For instance, flexibility. MZ individuals often place a higher value on flexibility, especially their ability to change both their job and their living situation easily.
Long gone are the days when it was reasonable to expect someone to work for the same company for decades on end; nowadays, if you're not trying new things, jobs, companies, and cities, you're behind the times.
Living in an RV allows MZers to travel and explore new places in a home base that can move with them and provides a place where they can work remotely, wherever they happen to be.
You Remote Work from Home - Anywhere
While they were at first forced into remote work during the pandemic, MZ individuals have actually come to prefer working from home to commuting and working in an office cubicle. And, it's understandable, given the relative freedom remote workers enjoy compared to those who must work on-site.
In a way, remote work and full-time RV living are perfect for each other. Living in an RV can provide the freedom to work from beautiful and inspiring locations rather than being tied to a single office or city. This increases general personal happiness while also opening up job opportunities; don't like the job market where you are? There are no geographic limitations with remote work.
If they live in an RV, MZ people can work from anywhere — so long as there's an internet connection or Wi-Fi!
You Can Embrace Minimalism
For the many Millennials and Gen Z individuals embracing a minimalist lifestyle these days — such as owning fewer possessions, living in a smaller space, etc. — it's easy to see how living in an RV can be a natural extension of this philosophy.
By living in an RV, you're deliberately choosing a smaller space in which you, for the sake of practicality and comfort, can have and need less.
Living in an RV full-time forces you to reconsider what's important to you and what you can do without. It affects everything in your life, from fashion to food preparation and storage. The full-time RV life can be very appealing to Minimalist MZers, which — in turn — can be good for the environment.
It's Environmentally Friendly
Yes, it's true: RVs can be gas guzzlers. But even so, living in an RV full-time can do much to reduce your so-called carbon footprint compared to living in a traditional house. Millennials and Gen Z individuals are acutely aware of their impact on the environment and want to do their part to help preserve it for themselves and future generations.
The smaller living space of an RV not only means you can live a minimalist lifestyle in terms of your possessions, but you also require fewer resources to maintain and power that smaller space — call it environmental minimalism.
Modern RVs also often come equipped with energy-saving appliances, and if you also utilize solar panels/charging, you're further reducing strain on the power grid.
Cruise America Can Help You Get Started
As you can see, there are many good reasons why Millennials and Gen Z individuals are flocking to the full-time RV life — but where can they find good RVs in which to live? Well, Cruise America has exactly the sorts of vehicles MZers need to embark on the great adventure that is full-time RV living.
If you're finding yourself priced out of your housing market and considering living in an RV full-time for a host of other valid reasons, then it's time to get in touch with Cruise America to find your next home on the road!