Younger people today are much less likely to own a house than their parents at their age, according to a new investigation into generational housing trends by the Stanford Center on Longevity.
As a result of purchasing property later in life, millennials may enter old age with less financial security, said Tamara Sims, a research scientist at Stanford.
By Annie Nova | CNBC
Homeownership in America is not as common as it once was — especially for today’s young people.
That’s the main takeaway from a new investigation into generational housing trends by the Stanford Center on Longevity.
The homeownership rate fell to 63 percent in 2016 – the lowest rate in half a century, and down from the all-time high of nearly 70 percent by the end of 2005, the peak in subprime lending.
