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“The US homeownership rate reached 63.4% in the second quarter of 2015, the lowest level in almost fifty years. The homeownership rate is especially low among millennials, and continues to decline each quarter. There are many factors affecting this trend – rising rents, student loans, and delayed marriages, for example – making it difficult to forecast trends in millennial homeownership… Our research suggests that affordability is the biggest barrier to homeownership, with 77% of millennials…
Over the summer I read “10 Things Millennials Won’t Spend Money On.” What do some of these trends look like in North Carolina? While many of these 10 things are difficult to examine in the data I normally work with, a few are readily available. Using data from the 1980, 1990, and 2000 decennial censuses and the 2012 American Community Survey, I examined home ownership, marital status, and childlessness among North Carolina young adults (ages 20-30) in…
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