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Student Loan Debt, Homeownership, And Millennials. It's Complicated.

Monday, October 5, 2015

Once the recession ended and unemployment, which had especially impacted Millennials, returned to normal levels, that age group was expected to increase the homeownership rate.  Instead, even as a larger chunk of that generation - roughly those born between the early 1980s and early 2000s -  enter the age when preceding generations became homebuyers, the homeownership rate overall has continued the steady decline that began in 2004 and the rate for those under age 35 has fallen from 44 percent to 35 percent.

Freddie Mac says that many theories have been advanced for the slower-than-average entry of Millennials into homeownership.  Some analysts argue that the reduced employment opportunities at what should have been the start of their careers delayed and perhaps permanently reduced their career development and wealth building while others attribute it instead to the generation's different attitudes towards marriage, family, and renting than their predecessors.

 

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