Congrats to the half (51.5%) of Millennials who have moved into their own homes, unpacked boxes and now are walking their pandemic-adopted dogs in new neighborhoods and planting flowers and pulling weeds from their landscaped lawns.
However, the remaining half or a bit fewer still rent. And many are discouraged and beginning to think they'll become what's now termed "forever renters." Maybe, they will, and maybe they won't, if interest rates go down, housing inventory goes up, they pay down debt and pull together a downpayment.
But in the meantime, their numbers reflect a changing trend. This cohort is taking longer than prior generations did to reach the homeownership milestone, according to Apartment List's 2023 Millennial Homeownership Report.
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