The Millennial Housing Crisis: A Generation Struggling to Buy Homes
The housing demand from millennials has made it harder for the generation to buy homes, as they face financial challenges and carry significant debt. The low housing supply and high prices have further hindered their ability to enter the market. Millennials have a heavier burden of student loans and a lower net worth compared to previous generations. The research warns of a potential housing bubble as the larger millennial population could lead to a surplus of homes on the market in the future, causing prices to decline. Millennials are left with a difficult decision of stretching themselves financially or forgoing homeownership and potentially missing out on building wealth.
