By Jann Swanson | Mortgage News Daily
Much has been made lately over the propensity of so-called millennials, the demographic cohort which is now between 18 and 34 years of age, to forgo homeownership. In its September Public Outlook Freddie Mac points out that this is not without an upside.
The monthly report, written by Freddie Mac’s Chief Economist Frank E. Nothaft and Deputy Chief Leonard Kiefer, concedes that the recovery from the Great Recession has been “extraordinarily slow” but it has picked up over the last couple of years and that increasing recovery has been led by the multifamily sector, especially the development of rental apartments.
