Why millennials have pushed down home ownership

Young Americans are waiting longer than ever to buy their first homes, slowed by a lack of cash and unsettled careers, The Associated Press reports. In the 1970s, first-time buyers typically had rented for 2.6 years. Today, that number is at six years, the report says. And the median first-time buyer is 33, up from about 30 a generation ago. The home ownership rate is at 63.4 percent, its lowest in 48 years. Millennials, roughly age 18 to 34, are delaying other key landmarks on the way to adulthood…
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