Millennials Want to Own Homes Too, If U.S. Economy Would Consent

Bloomberg

By Agnel Philip

Kelsey Marshall and her boyfriend Chris Eidam, both 27 years old, call the home-buying process “terrifying.” But they’re clear about one thing: It beats the heck out of renting.

“We’re wasting money where we are right now,” near Bridgeport, Connecticut, Eidam said. “We just take our rent and we throw it away. That money doesn’t go to anything.”

If that line of thinking sounds familiar it’s because, contrary to much of what’s written about them, millennials have many of the same attitudes toward housing as their parents and grandparents. Most say they want to eventually own homes, and only rent because of financial necessity. They even appear to be choosing more traditional houses in the suburbs over renting or buying in city centers.

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