Here is a recent story that both includes survey data that most millennials want to purchase a home yet leads with one who does not want to do this:
Niederkorn, a member of the millennial generation, currently lives with his parents but said he plans to be a renter for life and never buy a home. He craves the ability to pack up and go, he said, and doesn’t want to be saddled with a home loan, property taxes or homeowners associations fees. And though this may put him in the minority — an Apartment List survey of about 24,000 renters nationwide released in May found that 80 percent of millennial renters want to buy a house or condo sometime in the future — it does raise some interesting questions about the American Dream and the place of homeownership within it.
The historical overview of homeownership that follows is helpful but it is a weird premise: the cited data suggests there is a clear pattern but there is this one suburban guy who is going another direction. Do we follow the data or the single story?
On a related note, journalists are fascinated with millennials and what they may or not do, including buying a home. When I see such stories, I wonder if this is masking three different purposes:
- This is just another way to suggest there is a trend (journalists are always looking for trends).
- Journalists really hope millennials usher in major changes to American society.
- Younger journalists often live in big cities and want other millennials to affirm their choices.
Homeownership and suburban living is a hot topic in this area: will millennials follow their parents to the cookie-cutter suburbs and live boring lives? (There is often an evaluation of the suburbs included in the story.) I haven’t seen many articles where the conclusion is that many or most millennials will end up in the suburbs.