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Young Buyers Shun Houses Too
Car purchases aren't the only thing young American adults are putting off.
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Car purchases aren't the only thing young American adults are putting off.
The so-called Millennials people currently between 18 and 34 years old also are delaying home purchases, says Trulia Inc, the online real estate firm.
The company's analysis attributes the downturn to shifting demographics. Compared to the same age group 30 years ago, Millennials are less likely to be married and more likely to attend college factors that tend to delay the decision to buy a home.
One example: U.S. Census data show that only 30% of adults between 18 and 34 years old are married, compared with 47% in 1983.
Other factors are relatively modest wage rates, the country's slow pace of economic recovery and the burden of repaying college loans, according to other analysts. They point out that the same issues appear to be a factor in the slump in new-car purchases by Millennials.
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