HousingWire argues that Millennials can’t be blamed for low homeownership rates. “Like every other age group, they play a part in contributing to the issue, but it wouldn’t be fair to put this issue squarely on them,” the article says.
The age group may have slower household formation than previous generations, but that isn’t affecting their homebuying. Out of all Millennial homebuyers, the NAR reports that 65 percent are married couples, 14 percent are unmarried couples, 12 percent are single females, and 8 percent are single males.
Moreover, the age group is buying in more diverse markets: 49 percent bought in the suburbs, 21 percent in urban areas, 17 percent in small towns, 13 percent in rural districts, and 1 percent in resort towns, compared to 60 percent in the suburbs for the 35-49 age group.