Property Management News

Millennials are often blamed for the drop in homebuying, but Generation X isn’t jumping on the homeowner bandwagon either. The U.S. homeownership rate has been falling since 2005, and Gen-Xers are a big part of the decline. Homeownership among those aged 35-54 has dropped the most of any other age group since 1993, according to Harvard’s State of the Nation’s Housing 2015 report — especially those under age 44. “The market peaked right when they were at peak first-time buying age,” said Daniel McCue, senior research associate at The Joint Center for Housing Study of Harvard University. And the older members of the generation were at the age when people... Read more

The U.S. home ownership rate is at the lowest level in 25 years and is widely expected to go even lower. That’s not just the result of younger Americans struggling to make ends meet to save for a down payment on a home. It is increasingly the result of middle-aged, higher income Americans choosing to rent. Renter growth is now at the highest level in 30 years, and families or married couples ages 45–64 accounted for about twice the share of renter growth as households under age 35, according to a new study by the Joint Center for Housing Studies at Harvard University. In addition, households in the top half of the income distribution, although generally more likely to own,... Read more