Homeownership across America is on the decline, and millennials are partially to blame
since 2017, they saw"some of the steepest falls," according to Kusisto — the homeownership rate of households headed by someone younger than 35 fell from 36.5% to 35.4%.
In the last six months of 2018, she said, rising mortgage rates, high home prices, and a shortage of starter homes have slowed the housing market. Essentially, an increasingly expensive real estate market hasn't left millennials much choice but to delay homeownership.that"the whole real-estate industry now is characterized by extreme scarcity and inventory.".
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