April 24th, 2015 By Theresa Geyer in Blog.
WASHINGTON – April 20, 2015 – Rents are rapidly rising, jumping 14 percent since 2010 – yet many young adults continue to delay homeownership and rent instead.
While debts and saving for a downpayment continue to be big homeownership barriers for some millennials, a few housing analysts say that the main reason they aren’t buying is simply because they have no urgency to do so.
“Millennials are getting married later in life than previous generations, and a sense of urgency to purchase comes with stability, marriage and growing families,” says Joan Kamens, a real estate sales associate with Coldwell Banker Hearthside in Newton, Pa.
According to a recent Goldman Sachs study, 30 percent of millennials consider buying a home important but not a priority.