Housing turnaround bypasses younger adults

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As the housing market climbs back toward a healthy place after its collapse, homeownership rates among young adults (25 to 34 years old) in the U.S. have dropped more than any other age group from 2006 to 2011, according to a USA Today study of U.S. Census Bureau data.

From 2006 to 2011, the homeownership rate for 25- to 34-year-olds dropped 7 percent to 39.7 percent while the rate for all Americans dropped 2.7 percent to 64.6 percent, the USA Today study showed. Americans ages 35 to 44 saw the next-biggest dip in their homeownership rate with a 6.3 percent fall over those five years.

Student loan debt, high unemployment, and a lack of confidence that investing in a house is a wise investment are factors attributed to the large drop in the percentage of younger homeowners, USA Today reported.

Source: USA Today