Millennials On Homebuying: 2025 Forecast
The U.S. housing market continues to move ahead, but a generation of homebuyers is being left behind. Home ownership rates have fallen across all age groups since the housing collapse in 2009, but the biggest drop has been among the millennial generation. The home ownership rate will continue to fall through 2025, which means that millennials will be renting for a lot longer than their parents’ generation did.
Millennials are postponing homebuying because of:
- Largely unaware of down payment options
- Credit scores and stricter lending standards
- Student loan debt
- Debt-to-income ratio at a healthy level