Millennials are often considered a era of renters, however their homeownership price is catching as much as generation X. In the approaching years, they might become the first generation since World War II to reverse the development in declining homeownership. Homeownership normally has been on the decline for a minimum of the last three generations. After adjusting for age, millennials, gen Xers, and child boomers have all purchased properties at a slower price than the generation that preceded them.
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It is not surprising that even during a recession, those of their 20s will purchase homes faster than those of their 50s. The task is then to regulate for these variations in age and check if millennials are purchasing houses at an analogous fee as older generations did once they have been the identical age. Millennial homeownership is conceptually easy however not universally outlined. According to Pew, millennials … Read More