Home prices are still high, and so are mortgage rates. The kids aren’t all right.
The homeownership rate for people younger than 35 years old, who are generally younger millennials and older Gen Zers, fell to its lowest point in more than four years in the second quarter, data from the U.S. Census Bureau released yesterday shows. “Homeownership for households 35 and younger is still higher than pre-pandemic, but down from pandemic-era highs, when low mortgage rates enabled home purchasing,” a Realtor.com analysis of the data read.
