[Ed. – So these believers in socialism have not had the discipline to save toward their futures? Not surprising. They’re waiting for the government to rescue them.]
The American Dream for millennials just turned a new corner: Thanks to soaring student debt and crushing financial liabilities, homeownership is not in view.
Despite a slight uptick lately, the home ownership rate among millennials remains the lowest compared with previous generations. Roughly 1 in 3 US millennials under 35 owned homes at the end of last year.
Many analysts say indicators point to US millennial homeownership declining, perhaps even heading for a dive if a recession strikes.
According to a new study by LendEDU, 26% of millennials who are not yet homeowners identify a lack of savings; 10% blame “overwhelming” student loan debt; 5% blame “overwhelming” credit card debt; 6% blame other debt; and 17% cite poor credit. Nearly a quarter cite low income.