The year 2016 was an eventful one for home building.
Millennials are key to housing recovery, Harvard research shows
Courtesy of Harvard JCHS
The map above, recently released by the Harvard Joint Center for Housing Studies, demonstrates the affordability issue in the U.S. housing market. The darker purple areas represent households that pay over 30 percent of their income for housing; households in the darkest purple areas pay more than 50 percent. One elusive key to the market’s stronger growth is millennials – potential first-time homebuyers who are saddled with higher-than-ever student loan debt and falling incomes, and who continue to live with their parents.