Some market observers believe that young Americans who were growing up during the housing crisis will remain reluctant to purchase their own home as a result. Yet recent surveys show that adults ages 22-34, commonly referred to as “millennials,” are eager to become homeowners.
However, researchers say that later marriages are causing them to put off purchasing real estate. “Not having two income streams makes it much harder to scratch together a down payment,” notes Time magazine.
“Once this generation begins to tie the knot,” adds Time, “it’ll be buying homes at least as frequently as older Americans once did.”
Time goes on to report that surveys reveal young Americans are more likely than their parents and older siblings to crave living in their own place. “If anything,” Time states, “buying a home seems to be getting more attractive, not less.”
And once they have children, they’re more likely to want to move from an urban setting into the suburbs where they’ll have more room. “America’s newest adult generation isn’t that different from the previous ones,” Time notes. “Millennials may Instagram their new home instead of sending photos through the mail, but not much else has changed.”