Dina ElBoghdady and I wrote this morning about how Millennials, the largest and most diverse generation in U.S. history, are poised to impact the housing market — if, that is, they’d all finally move out of their parents’ homes.
There are a number of reasons to suspect that Millennials may behave differently in the coming years, as homebuyers and heads of their own households, than previous generations. To round up some of those factors, the following data and graphs come from a new report out today on the state of the nation’s housing by the Harvard Joint Center for Housing Studies. The report covers a wealth of trends — from who’s buying homes, to how we’re paying for them, to what it costs today to be a renter — but the prospects of Millennials are a recurring theme.
As with many other trends — their driving preferences, their job prospects, even their politics — we’re waiting to see what happens next with this generation as it ages.
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