唐’t hold your breath for 千禧一代 至 purchase homes: 6 years into a recovery and 千禧一代 are still moving into parental homes at record levels.
I ran into a successful Millennial couple this month and we had a good discussion about housing. They are in their 30s and still do not have any 孩子们. Both are career driven and ultimately would like 至 buy a home. They have the 钱 至 buy but just don’t want 至. What they brought up was interesting and they mentioned some of their peers had 至 resort 至 和爸爸妈妈一起搬回去. What they brought up simply reflects a “new normal” for 千禧一代 and that is many are simply not eager 至 purchase a home. Many are delaying marriage, have smaller families (if any), and a large number are carrying sizable student 债务. All of this has caused a low demand for housing and alternative choices 至 buying a home especially for this cohort of Americans. In California we have a high number of 成人s living at home 很大程度上是因为租金和房价的成本。然而，这一趋势涵盖了整个国家。较高的房价和租金只会加剧这一趋势。
让 us first look at the data:
The percent of young 成人s between the ages of 25 and 34 living with parents remains at historically high levels. The Catch 22 here is that higher home prices and higher rents have made this problem worse. In the past, higher rents and higher home prices came from regular household demand. 今天, this function has been stunted by 投资人, foreign buyers, and local banks stalling on the foreclosure process so you have a small amount of inventory and prices going up largely because of non-family buying. The end result? Tons of 成人s living at home or 出租 as the next option.
If you are a young 成人, your first venture into the “real world” is 出租 an apartment, typically. You don’t go from getting a job 至 buying your dream home right off the bat. Sure, in some states where home prices are cheaper you will have better luck. But in most metro areas where a large portion of people live, this is simply not doable.
The Fed has interesting data on this. They find that student 债务 is actually impacting buying rates with 千禧一代. This makes sense because many more young Americans are going 至 college:
难以置信，但是在加利福尼亚州曾经有一个蓝领工人能够购买房屋。其中许多 塔可星期二婴儿潮 went down this road. 那 is the expectation that they pass down 至 their 孩子们. Yet it is drastically different reality in this market. 今天, like that dual income no 孩子们 couple, even two professionals (with in-demand college degrees) are on the fence about buying a home. Paying $ 700,000的垃圾屋 聪明的人会使他们停下来，理应如此。
We are living in a housing market with no parallel in history. The fact that so many grown 成人s are living at home into their 30s and 40s should tell you something.你喜欢这个职位吗？订阅Housing Bubble医生的博客以获取最新的住房评论，分析和信息