by Patrick Simmons and Dowell Myers Economic & Strategic Research Group; University of Southern California
Homeownership among young adults has fallen sharply since the onset of the housing bust. The homeownership rate of households headed by 25- to 34-year-olds was 36.9 percent in 2014, nearly 10 percentage points lower than in 2006 – the high-water mark for the nation’s homeownership rate
One obstacle to a rebound in young-adult homeownership is the substantial up-front cost of purchasing a home. According to Fannie Mae’s National Housing Survey ...Read more »
by Patrick Simmons Director, Strategic Planning, Economic & Strategic Research
Popular notion holds that Baby Boomers downsizing their homes are a major force behind the recent apartment boom. One recent article noted that the "magnitude of Boomers' rental demand [has stunned] some industry observers," while another asserted that "boomers are renting apartments and buying condos at more than twice the rate of their millennial children."
The problem with these accounts is that they aren't supported by the data ...Read more »