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Millennials and How They've Changed Housing
Monday, April 13, 2020
Millennials have lagged most of their
predecessor generations in terms of their homeownership rate but when they did begin to buy, they become the fastest growing market segment. The
Census Bureau says the homeownership rate for those 25 to 34 years of age
increased from 36.5 percent in the fourth quarter of 2018 to 37.6 percent 12
months later. The group also earns more than any young adult households in the
last 50 years with a median household income of $69,000. Who knows where either measure will
go given the current crisis, but CoreLogic has examined Millennial's impact on housing
and found four areas where their housing choices are, or at least were, shaping
the market.
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