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Tuesday, December 11, 2018
Apartment List: Millennial Renters Are Putting off Home Buying in the Near Term
A new study by Apartment List finds that while 90% of millennial renters would like to purchase a home, the majority are still struggling to afford a down payment. According to the study, 48% of millennial renters have no money saved for a down payment, and two-thirds would require at least two decades to save enough for a 20% down payment on a median-priced condo. Student loan debt is a major contributor to the lack of savings among the millennial generation. Only 12.1% of millennials who have a college degree and student loan debt will able to save enough for a 20% down payment within the next five years. Read more.