Posted To: MND NewsWire
The U.S. housing market continues to move ahead, but a generation of homebuyers is being left behind . That's the conclusion of an analysis of homeownership by John Burns, a real estate consultant and author who has crunched the numbers in a new report . Homeownership rates have fallen across all age groups since the housing collapse in 2009, but the biggest drop has been among the millennial generation. Burns predicts the homeownership rate will continue to fall through 2025. Which means that millennials will be renting for a lot longer than their parents' generation did. In 2004, when the overall homeownership rate peaked at j ust under 70 percent for all age groups, those born in the 1970s were 25–34 years old, moving out on their own and forming new households. With mortgages easy...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2cwORTY
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