The Housing Market Is Tougher for Millennials

October 23, 2015

Though the barriers young Americans face when it comes to homeownership are well-documented in real estate media, the issue doesn’t seem to be going away anytime soon.

According to Slate, there are less homeowning Americans under the age of 35 today compared to a significant portion of the nation’s history. Nearly half of these young Americans that are renting are considered “rent burdened,” which means that a third or more of their income is going toward housing.

For members of the Millennial generation looking to buy, Bloomberg reports that the cheapest starter home prices today are more expensive than they were a year ago, due to lack of supply.

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