Jobs for millennials is answer to increasing homeownership

Zillow Real Estate Research reveals that today’s unemployment rate has important implications for the housing market tomorrow.

Their research found that when the unemployment rate increases 1 percentage point among young adults, their homeownership rate tends to fall by 0.5 percentage point in the next year. Similarly, when part-time employment increases 1 percentage point in the same age group, the next year’s homeownership tends to fall by 0.45 percentage point. Though millennials with full-time employment experienced similar wage gains to prime-working age adults, more millennials have found part-time jobs over the recovery.

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