Why Are Younger Americans Buying Fewer Homes?
Posted by Heather Hudson on
In recent years, there's been a lot of discussion about millennial home buying preferences. Mostly, this is due to the fact that first-time home buyers have historically made up about 40 percent of the home sales in any given year. And, because they account for a large number of the homes sold each year, any fluctuation in those numbers is notable. That's why Freddie Mac recently took a look at why the homeownership rate among young adults has dropped 8 percent since hitting its peak in 2004. As you might imagine, there are a variety of reasons for this. Among them, affordability, not surprisingly, ranks highest. Concern about being able to afford homeownership is always an issue for younger buyers. But there are many other factors that have played a role…
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