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Why can't load google chrome4/6/2024 ![]() The reasons why millennials aren’t purchasing homes at the same rate as their parents are nuanced. The rate at which millennials can purchase a home in Denver given the city’s wages is among the lowest in the country, a study from the National Association of Realtors found. And in 2016, that number for that same age group dropped to 35%. In 1999, 40% of Generation X-headed households in this age bracket owned homes. In 1982, 41% of households headed by people younger than 35 - the approximate age of baby boomers at the time - owned their own home, according to Pew Research. One repercussion: Millennials are less likely than previous generations to own their own homes. Why can't Colorado millennials afford to buy a house?Īt pivotal moments in many millennials’ lives - high school graduation, college degree attainment, workforce entry - outside forces including the 2008 recession and its fallout, the student debt crisis and now the COVID-19 pandemic have stymied progress, stalling or altering the usual rites of passage of American adulthood, experts told The Denver Post. ![]()
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