Could the Long Decline in Young-Adult Homeownership Be Nearing an End?
In the latest edition of Housing Insights, Fannie Mae's Economic & Strategic Research Group prepares several projection scenarios for young-adult homeownership during the remainder of the decade. Given strong underlying population growth trends, these scenarios demonstrate how even small improvements in homeownership rate trajectories for young adults could generate increases in young owner-occupants in coming years, in stark contrast to the large declines registered during the housing bust and Great Recession.
A return to growth in the number of young homeowners would stand out from the experience of recent decades, in which declines have been the norm. Resumed growth in young homeowners could have several implications for the housing industry, including creating the need to adjust the size, type, and geographic location of new housing construction; to expand education and counseling efforts targeted at inexperienced homeowners; and to step up efforts to provide services and technologies suitable for youthful home buyers.
To learn more, read the Perspective and our latest edition of Housing Insights.