Why Millennials Are Giving Starter Homes A Miss
- 5 years ago
Starter homes used to be seen as the gateway to adulthood.
Received wisdom touts them as a great way for young people to stop paying monthly rent, build equity, and save up for a larger home.
But now, Business Insider reports millennials are choosing to rent for longer periods of time before buying larger homes later on.
In fact, they're skipping starter homes entirely. Public opinion of the housing market is at an all-time low among millennials.
Affordable housing is scarce.
Received wisdom touts them as a great way for young people to stop paying monthly rent, build equity, and save up for a larger home.
But now, Business Insider reports millennials are choosing to rent for longer periods of time before buying larger homes later on.
In fact, they're skipping starter homes entirely. Public opinion of the housing market is at an all-time low among millennials.
Affordable housing is scarce.