Friday Facts – Despite Money Issues, Millennials Still Want to Buy Real Estate

May 27, 2016 


Snippets from an article in REALTOR Magazine by Erica Christoffer


  • Millennials have a lower net worth than their parents did at their age, and a lack of money coupled with student loan debt continues to be a roadblock to home ownership.
  • Households headed by an individual under the age of 35 had a net worth of $10,460 in 2013 compared with $15,260 in 1983.
  • First time buyers represent 32% of buyers today compared with the historic annual average of 40%.
  • Currently, 39% of millennials live with their parents.
  • The major hurdles to home ownership are flat wages, rising rents and student loan debt.
  • 94% of millennial renters say they want to buy.
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