Spanish Peaks

By: James A. Frank

Big Sky, Montana
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Aug 26, 2015
Homeowner Cultural Shift

(NEW YORK) Homeownership rates recently hit 48-year lows, reports Fortune. That’s not good news. Either are figures that show first-time homebuyers are taking the plunge much later than ever. So what’s up? We know that soaring student debt and high rents are making it more difficult to save up for a down payment. And with more young adults putting off marriage and living with their parents, they don’t have much of an incentive to buy a home of their own and settle. Fortune quotes Jed Kolko, Senior Fellow at the Terner Center for Housing Innovation, on the subject: “The share of young adults living with their parents increased in 2015…. One contributing factor is that 25-34 year-olds are decreasingly likely to be married or cohabitating with a partner, and – unsurprisingly – married or cohabitating young adults rarely live with their parents (just 2% do) compared with 31% of those who aren’t living with a spouse or partner. The decline in marriage among young adults is a long-term trend, pre-dating the recession.” Turns out it’s 65-74 year-old seniors who leading the way in new households, not the youngsters.  

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