The economy is officially recovering from the Great Recession: income is increasing and unemployment is decreasing. More millennials are employed, yet less adults 35 and younger are buying homes. In fact, the homeownership rate among this age range has sunk by 6.3% since 2004. So what is the culprit of decreasing home-ownership rates? Student loans, a massive effective rent increase, and a delay in both marriage and starting a family all contribute to the millennial domination of the rental market. Why are young adults choosing to rent over buying?
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From:: Property Management