That stat about Millennials and homeownership shocked me at a BBQ last month

I was talking to my buddy's dad at a cookout and he said only 48% of Millennials own homes compared to 62% of Boomers at the same age. It came from a report by the Urban Institute, and it made me rethink all the jokes I hear about us just spending money on avocado toast. Has anyone else run into numbers that completely flipped how you see your own generation?

2 comments

2 Comments

the_fiona14d ago

Wait, only 48%? That's actually terrifying. I thought we were closer to 50-50 but eight points worse than I guessed. Heard something similar at a friend's place about student loan debt basically being a second mortgage for most of us before we even get a real one. Makes you wonder who's actually running the numbers on these reports.

blakem1313d ago

The Urban Institute report is solid but I remember seeing the raw numbers. Homeownership rates drop even more when you adjust for age and region. Like in New York or San Francisco the rate for Millennials is way lower than the national average. But honestly a lot of that is just people choosing to rent in cities where it makes more sense financially. I don't think it's as dire as people make it out to be.