Maybe it’s the very competitive rental market, the recent tech boom in San Francisco, or perhaps the overwhelmingly amount of 20-somethings that can’t finish a meal without checking their Instagram. Whatever the reason, there have been some voiced concern that owning a home, considered part of the foundation of the American Dream, is not important to the younger generations.
However, a recent study by Merrill Lynch has put these concerns to rest and have in fact unveiled that despite the increased sightings of Patagonia vests in the workplace, homeownership is equally important to Millenials as it was for Baby Boomers.
Here are the numbers:
Rest assured, not all values are lost in today’s young people. Owning a home will always make more economic sense than renting and the benefits have remained transparent in today’s strong market. Rates are still very low. What are you waiting for?
Real Estate Professional, DB Sotheby's International Realty