When it comes to buying a home, it’s safe to say that many millennials are caught in a catch-22.
Even though more millennials associate buying a home with the “American Dream” than any other generation, the homeownership rate for Americans under age 35 is near record lows at just 34.7%. In other words, millennials seem to want to buy homes, but various factors have been preventing them in doing so.
Waiting until later in life to start families is one commonly-cited aspect of the story, but millennials are also saddled with student debt and low wages, which have prevented from from amassing any significant savings.
Despite these factors, the demographic evidence is compelling – and many experts are expecting a shift in millennial buying behavior in the coming years.
Source: http://www.visualcapitalist.com/survey-results-millennials-want-home/
