Survey shows reasons many millenials aren't homeowners, and it's not avocado toast
A new survey published Friday by Apartment List, an online apartment locater service, asserts that homeownership aspirations are more affected by a gap between reality and expectations than by millennials’ affinity for avocado toast.
In short, the survey titled “American Dream Delayed” showed that while the overwhelming majority of millennials—those born between 1982 and 2004—want to eventually own a home or condo, most struggle with the obstacle of affordability. What’s more, the survey revealed a disconnect between market prices and the amount of funds the survey participants anticipated having to save for a down payment.
Of those that participated, 72 percent cited affordability as the primary obstacle, with 45 percent stating that they were not ready to settle down and 36 percent saying they were putting off a home purchase until after marriage. Among those renters who stated they do not intend to buy, nearly 60 percent said they enjoyed the flexibility of renting according to the survey results, but 56 percent of renters also cited cost.
source: lbpost.com
