Millennials’ share of the U.S. housing market: small and shrinking

Today’s young adults are starting their lives on drastically different financial footing than their parents did decades ago. Necessities cost far more and wages have flattened; as a result, many young families have to dig through mountains of debt before they can even think about growing their wealth. A data point from the Federal Reserve, highlighted recently in a special report on housing by the Economist, underscores the differences between millennials’ financial trajectory and those of earlier generations: In 1990, baby boomers, whose median age was 35, owned nearly one-third of American real estate by value. (Wash. Post)

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