Lost Generation of Homeowners

On why millennials are not buying homes.

There is a simple reason: we can't afford them.

I suppose there are many, more complicated reasons for why we can't afford them - mainly - the economy pushing out middle class jobs, underemployment, a general insecurity about future employment (I'm leaving out unemployment because even though it is high, most college aged millenialls are not suffering), taking longer to settle down because of many factors (longer life expectancies, cultural expectations, etc), prices overvalued relative to renting (in my case, I live in Santa Monica in a rent controlled apartment and to live in an equivalent location as an owner would cost maybe 3 times as much plus a down payment).