Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Crewleader
Crewleader's Journal
Crewleader's Journal
November 1, 2014
Weve all heard about the broke Millennials living at home with mom and dad unable to move out into a very expensive rental. For years, weve been told that somehow this young group of people would represent some pent up demand to buy homes. This demand never materialized. Instead, you have tight inventory in certain markets being fought over by investors and those willing to pay current prices while stretching their budgets. Yet volume remains incredibly pathetic. The homeownership rate has fallen dramatically and some point the blame to the Millennials. But as it turns out, the big drop has come from those 35 to 44. Generation X overall has been a massive drag on the housing market. The young are simply not buying homes like they once did and many are opting into the rental market. So how big of a drag is Generation X on the housing market?
Generation X and housing
Since the housing market imploded, the homeownership rate in this country has been on a steady decline. Even with the blockbuster year in 2013 in terms of prices, the homeownership rate continues to remain weak. It is probably worth noting that some groups pulled back harder than others. Let us look at those 35 to 44:
http://www.doctorhousingbubble.com/blame-fall-in-homeownership-generation-x/
Dr. Housing Bubble 10/31/14
Blame the fall in homeownership on Generation X: Why did the homeownership rate fall so dramatically for those 35 to 44?Weve all heard about the broke Millennials living at home with mom and dad unable to move out into a very expensive rental. For years, weve been told that somehow this young group of people would represent some pent up demand to buy homes. This demand never materialized. Instead, you have tight inventory in certain markets being fought over by investors and those willing to pay current prices while stretching their budgets. Yet volume remains incredibly pathetic. The homeownership rate has fallen dramatically and some point the blame to the Millennials. But as it turns out, the big drop has come from those 35 to 44. Generation X overall has been a massive drag on the housing market. The young are simply not buying homes like they once did and many are opting into the rental market. So how big of a drag is Generation X on the housing market?
Generation X and housing
Since the housing market imploded, the homeownership rate in this country has been on a steady decline. Even with the blockbuster year in 2013 in terms of prices, the homeownership rate continues to remain weak. It is probably worth noting that some groups pulled back harder than others. Let us look at those 35 to 44:
http://www.doctorhousingbubble.com/blame-fall-in-homeownership-generation-x/
Profile Information
Gender: FemaleCurrent location: Florida
Member since: 2001
Number of posts: 17,005