Homeownership for Americans 35 and under declined to 36.2 percent, down from 36.8 percent in 2013 and the lowest on record since the census’s Housing Vacancy Survey began tabulating homeownership by age in 1982. (source USA News)
When I came across this stat after I had my closing date set, I actually studied the facts further and even started to doubt my decision to buy a home with my husband.
I have had three close friends go through foreclosures and now are renting. I have no single friends that own homes right now that I can think of. A few that are newly married that have chosen to wait to buy a house “until it’s the best time in the market”. Then finally the friends that do own homes all have children and are in the construction industry “when it just makes sense”.
Really, the facts have always been clear that the millennial lifestyle is just not like our parents.
I think of one of the earliest research stats I can remember, the average number of children per couple. Gallup has been asking Americans “What do you think is the ideal number of children for a family to have?” since 1936, when the ideal number per family was 3.6. This number declined between 1957 and 1978 to an average of about 2.5 children, where it remains today—OK enough on that stat that’s another blog post, and no I’m not pregnant.
Steve and I celebrated our 1 year wedding anniversary in our home this weekend. Just for the record, we have also already done 91 Home Depot, Menards and Lowes visits in just three weeks (glad the 11% Menards rebate was going on too). Don’t worry friends this blog won’t turn into a BEFORE and AFTER or DIY picture over-share… we will save that for Pinterest.
Thanks for stopping by. Three advertising and marketing events this week, so stay tuned for strategic updates and thought-starters (now I really have to write about at least one).
Your newest millennial homeowner,
MN Design Gal plus Steve