4 ms·

Young people (late 20’s/early 30’s) own homes at the same rate as people did 40 years ago. Source for this?

• nemo44x 3y ago
  https://www.redfin.com/news/gen-z-millennial-homeownership-rate-home-purchases/ https://www.redfin.com/news/gen-z-millennial-homeownership-r...
  • JasserInicide 3y ago
    Interesting. Milliennials are a bit behind but it's essentially rounding errors. Did not expect that. It's another example of narratives the media pushes being different from reality. However I wonder if there's any good data on a milliennial's PPP vs. their parents. That definitely has to be the real difference especially since there's plenty of data on how the average income hasn't scaled with productivity for ~50 years.
  • soared 3y ago
    According to the article ~20% of people under 20 years old own a home? And that percentage decrease for a few years and then increases again? > A 25-year-old’s median monthly mortgage payment was $1,013 in 2021 The median price for a home owned by 25 year olds is 235k, and 30% of 25 year olds own a home. Doesn’t really seem like that passes the sniff test, unless like 100% of rural 25 year olds purchased homes.