Millennials Bring Hope To Housing Market

With many millennials carrying around large student loan debt and lending rules getting tighter, the number of millennial homeowners is disappointing. Although, in the near future, experts expect the millennial generation will boost the housing market to record levels. Today there are approximately 13.3 million millennial homeowners; that number is expected to increase to 21.6 million by the year 2018. Over the next five years, the same group is expected to spend $2 trillion on rent costs and home purchases, this is more than any other generation in history. 60% of millennials plan to own a home in the future while three-quarters think home-ownership is an important long-term goal. More here

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