Millennials are not the cause of collapsed homeownership

Gen-X is turning away from homes even faster than Millennials

October 29, 2014
Millennials, homeownership, real estate, housing market

The Atlantic reports that homeownership in the U.S. has fallen to a 19-year low, and contrary to popular media portrayal, Millennials aren’t the biggest force in the decline.

 

Instead, data from the U.S. Census shows that Americans between the ages 35 and 44 have had the sharpest drop in homeownership since the recession struck, far outpacing the national rate. Since 1994, total homeownership is actually up .09 percent, but has dropped down 9 percent among the 35-44 years old crowd. In sum, homeownership has fallen less for young people than for any other age group under 64 in the past 20 years.

 

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