Millennials are an enigmatic generation, and one of the most pressing discussions is whether they will enter homeownership at equal rates to previous generations.
Increased flexibility from being single and not having children could signify higher purchasing power and potential, but these advantages are often plagued by significant student loans and low wages.
Although millennial homeownership increased .1 percent from Q1 to Q2 2017 (U.S. Census Bureau), millions remain hesitant to buy homes; but homeownership continues to be a powerful way to build wealth and create a better life. Forsaking this milestone could prove costly to today’s young generation.
For this reason, it is necessary to address millennials’ homeownership concerns.