Rising housing costs mean more millennials live with their parents

Personal Finance

“You would expect young adults living at home to return to historic norms,” said Aaron Terrazas, senior economist at Zillow, speaking about how we’ve recovered from the housing bubble. “But the trend hasn’t decreased — if anything, it’s increased.”

Fewer millennials are moving into their own place because housing prices are outpacing wages, Terrazas said.

Student loan debt has also become a major barrier to home ownership in America. More than 80 percent of people age 22 to 35 with student debt and who haven’t bought a house yet, blame their educational loans, according to the National Association of Realtors.

Here are the cities in which the most millennials reside with mom.

Source link

Products You May Like

Articles You May Like

You should plan for your kids’ college when you get divorced
European stocks mixed; traders monitor US-China trade row, earnings
Microsoft CEO Satya Nadella sells 30 percent of common stock
The IRS is cracking down on this small business tax break. What it means for you
Home Depot earnings q2 2018 crush expectations

Leave a Reply

Your email address will not be published. Required fields are marked *