In fact, 89 percent of millennials say they intend to own a home someday, but over half (58 percent) stated they cannot afford a down payment and/or could not maintain the monthly mortgage and expenses of home ownership.
Of those residents who have owned or currently do own a home, 51 percent say owning is a better investment than renting, but only 26 percent say it provides a more stable environment.
Michelle Mayhall, Marketing Analysis Team Supervisor at American Modern, said, “Although the younger generation of potential homeowners may be delaying this decision for personal or financial reasons, this survey shows that today’s young Americans, specifically those in the dynamic San Francisco real estate market, still place tremendous value on the importance of homeownership. In fact, our survey findings show that the idea of owning a home as part of the ‘American Dream’ is not only important to millennials, but is in fact even more pronounced than among their more senior counterparts.” ##
(Image credit: rentbuyreport)
