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465 sats \ 3 replies \ @kr OP 29 Jan freebie \ parent \ on: Narrative Violation: US Millenials Are Buying More Homes econ
any theories as to why young people are seeing their home ownership rates go up faster than all other cohorts?
are young people actually doing better economically than they were in 2016? are they just stretching their finances in a desperate attempt to own property?
are they just stretching their finances in a desperate attempt to own property?
That's closest to what I've heard. Again, though, who knows how reliable that narrative is. What I've heard is that millennials are finally starting families and buying homes after delaying those things longer than prior generations.
That seems slightly at odds with ownership rates increasing over time for each age cohort. However, it could still be true that the average age of first home purchase is increasing along with the likelihood to ever buy a home.
I would also be willing to speculate that prolonged historically low interest rates led to an increased willingness to take on tons of debt.
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i just looked at canadian rates of home ownership for comparison, and it is telling a different story.
Canadians from 30-49 have lower home ownership rates than previous generations.
seems like it might be a US-centric phenomenon, maybe young Americans are actually doing better financially than they were in 2016 (and Canadians are doing worse)…
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Very interesting! It looks to me like Canadian Boomers were very good at funneling resources to themselves.
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