Millennials are choosing to settle down later and many are choosing not to buy a home, with student loan debt often being cited as a chief reason for not buying. US News & World Report's Maryalene LaPonsie takes a look at millennials and whether or not they truly are a generation of renters.
One factor that LaPonsie points out is that millennials may not differ much from previous generations. Home ownership rates have fallen across all generations following the market collapse. Additionally, they may not even differ much from Generation X when they were in the same position:
Even with this post-recession dip, millennials still own homes at roughly the same rate Gen Xers did more than 20 years ago. According to Census data, 34 percent of those age 35 or younger owned a home in the first quarter of 2016. Meanwhile, 37 percent of young adults were homeowners in the first quarter of 1994.