Mari's Journaling Power Blog | Journaling Journeys
Millennials today have lower homeownership rates than any preceding generation. Data collected by the U.S. Census Bureau shows that millennial homeownership rates fall 20% below that of previous generations.
In a world where inflation and higher costs of living make achieving financial independence increasingly difficult, homeownership can feel like a pipe dream. This is especially true for the growing number of millennials saddled with low-paying jobs, student debt, and other financial stressors. Studies show that 70% of “adults ages 18 to 34 received financial support from their parents in the last year, including more than half of those in their early 30s.”
All hope is not lost, however; an age-adjusted comparison reveals that at 30 years of age, ownership rates tally at “42% for millennials, 48% for Generation X, and 51% for baby boomers.”