I was under the impression that US millennials were being priced out of the housing market and were struggling to keep up with rising real estate prices.
However, this chart from the US Census Bureau seems to show that Americans under 44 represent the fastest growing cohorts for home ownership.
I then went to look at overall home ownership rates, this chart from The Federal Reserve surprised me too.
Home ownership rates across all cohorts are higher now than basically anytime in the last 50 years (except the decade around the GFC housing bubble).
Maybe inflation hasn’t been as tough on people as I thought?