from Hacker News

Majority of Millennials Are Now Homeowners

by DDSDev on 5/30/23, 12:29 AM with 6 comments

• by briga on 5/30/23, 2:50 AM

  I feel like there’s a meaningful difference between owning a home outright, and ‘owning’ a home with a $10,000 down payment and a 30-year mortgage. What percentage of millennials actually own their homes?

• by jrflowers on 5/30/23, 4:30 AM

  From the cited study:

  > For this study, we looked at the number of owner-occupied properties/households and renter households for each generation across 260 U.S. metro areas available from IPUMS

  Anecdotally, I don’t know any millennials that owns a home, or know anyone that knows a millennial that owns a home, but I can think of a half dozen plus gen x/baby boomers that claim investment properties as owner-occupied.

  ¯\_(ツ)_/¯

  Study link: https://www.rentcafe.com/blog/rental-market/market-snapshots...

• by MattGaiser on 5/30/23, 12:49 AM

  > The average Millenial buyer bought their first home at 34, compared with Gen X’s average age of 32 and Boomers at 33.

  I’m surprised these are that high. The typical thing people think going back is that boomers and Gen X got married at 24 and 27 and then bought houses. Clearly not.