Millennials and How They’ve Changed Housing

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Posted To: MND NewsWire

Millennials have lagged most of their predecessor generations in terms of their homeownership rate but when they did begin to buy, they become the fastest growing market segment. The Census Bureau says the homeownership rate for those 25 to 34 years of age increased from 36.5 percent in the fourth quarter of 2018 to 37.6 percent 12 months later. The group also earns more than any young adult households in the last 50 years with a median household income of $69,000. Who knows where either measure will go given the current crisis, but CoreLogic has examined Millennial’s impact on housing and found four areas where their housing choices are, or at least were, shaping the market. Saumi Shokraee writes in the CoreLogic blog that Millennials are careful shoppers (or perhaps very picky) and are willing…(read more)

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