More millennials say they prefer to rent houses over buying than in past generations.
The millennial generation is usually defined as those born between early 1980’s and 2000. according to the New York Times there are more 23 year old than any other age group. Millennials are moving to surpass baby boomers as the largest age group, changing the market place in their wake. Nearly six in 10 millennials (59%) say they’d rather rent a home than buy one, with just one in four saying they are either very or completely likely to purchase a home in the next five years, according to a survey of 1,300 millennials released this week by EliteDaily and Millennial Branding.
If millennials continue this trend what will be the impact on the real estate market and their personal wealth.
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