Are you searching for quality housing? Abodo has the most recent housing report for millennials to know what is really going on in the housing market. Millennials are now the largest generation of adults with the oldest members now reaching their mid-30s. Hypothetically the mid-30s traditionally signify financial stability but millennials are dealing with 20% lower earnings than Boomers and rumor has it millennials are experiencing poor money mismanagement. But that may not necessarily be the case. They have high student loan debt and now becoming a generation of renters but there’s a sight surge in home purchases by millennials.
According to The 2017 State of the Nation’s Housing report by the Joint Center for Housing Studies at Harvard, 1.4 million recent homebuyers were under age 35 in 2015 while the number of homeowners over age 55 jumped by 13 percentage points to 54%, between 2001 and 2015. Moreover, the share of homeowners under age 35 shrunk by 5 percentage points over the same period to about 33%. Here’s a look at where Millennials have the best chances of buying a home, what types of homes they can afford, and the dwindling number of 18 – to 35- year olds able to make the investment.
