"After gains in the second half of 2015, the homeownership rate fell to just 63.6 percent, seasonally adjusted, in the first quarter of this year, according to the U.S. Census Bureau. Homeownership hit a high of 69.4 percent in 2004"
This article has a lot of interesting facts in it! One that I can appreciate is homeownership among those aged 25-34 today is nearly 10 percentage points lower than it was a decade ago. It points to student loan debt, the trend to delay marrying and having kids, increasing rental rates which prevents that age group from saving for down payments & a rising home prices as part of the cause.
Last year I purchased my first home home as an unmarried, 29 year old. I am on the older side of the millennial generation but I believe I can relate to the typical millennial issues issues as well as many of my close friends. I have student loans, only one income, and rental rates in Naples are incredibly high with limited inventory. In fact, I don't even live in the condo I purchased, I rent it out and still am living my rental. Times are changing with my generation. We are not going through the stages of life at the same times as our parents did, which it will be interesting to see how that impacts our world in the coming decades.
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