3 reasons why young people are scared of homeownership
Go Deeper.
Create an account or log in to save stories.
Like this?
Thanks for liking this story! We have added it to a list of your favorite stories.
Derek Thompson, spoke with us today about the decline in young homeowners. Here's why Thompson thinks we're seeing this trend:
1) People are much more likely to get a home if they get married. Marriage in on the decline and the homeownership decline follows.
2) Families "are freaked out about the economy. And 'freaked out' isn't necessarily an economic term but it has an economic basis. People are scared of losing their savings. They're scared that their jobs are going to evaporate because of globalization and technology."
3) "It's this torrent of regret that's having a trickledown effect. Thirty-somethings saying 'I wish I had never bought'...and this sentiment is trickling down and probably discouraging 20-somethings who might be buying a home."
Support Local News
When breaking news happens, MPR News provides the context you need. Help us meet the significant demands of these newsgathering efforts.