Millennials, A Different View on Home Ownership?

 

rent-vs-buy

Millennial is the name which generally has been used to identify a generation of people who were born in the 1980s and 1990s. Most of us have experienced tales from people of generations who went before us  as they reminisce about “the good old days” while lamenting the loss of the lifestyle of their generation.  For many generations, home ownership has been considered part of the American Dream.  Should we always assume what worked in the past will work now, or in the future? 

Some millennials don’t think so and  are making  non-traditional decisions about their living and housing arrangements.  This interesting article from Zillow.com describes millennials who are opting out of home ownership and seeking other housing options.   Often it is a decision based on financial need, but not always.  It can also be because of a desire for easy mobility, or just being comfortable living in a community-like atmosphere.

Perhaps the  accepted definition of the American Dream is  being rewritten and revised by this generation of consumers.  An interesting concept and a fascinating article.