Are Millennials Putting Homeownership on Hold?

Current mortgage rates make buying a home, especially for a millennial (24 – 38-years old), a much more attractive option than continuing to pay the landlord. But then again, perhaps not. There are several factors working against millennials, which is keeping them from their piece of the American Dream. A recent survey of 5,000 persons, in those age demographics, performed between April 7th and April 12th, by the Pew Research Center found one-third of millennials have been laid off due to the COVID-19. Another 42 percent said their pay has been cut, researchers reported. While the Pew survey revealed 69% of baby boomers said they expected things to improve, 57% of millennials said things would be no better or worse.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.