: Baby Boomers currently own 28% of the nation's large homes, often with fully paid-off mortgages, leading to a significant mismatch as young families with children only own 16% of these properties.
: The median first-time homebuyer age has reached a historic high of 40. millennials buying homes
To bypass high costs, millennials are adopting non-traditional ownership models: : Baby Boomers currently own 28% of the
The "Millennial struggle" in real estate is driven by a unique set of economic pressures: While major hubs like Los Angeles or Northern
: Affordability varies wildly by location. While major hubs like Los Angeles or Northern Virginia see average prices between $750,000 and $870,000 , markets in the Midwest and Central Virginia remain much more attainable.
: High mortgage rates (hovering around 6-7% ) and student loan debt are the primary barriers cited by 25% of potential millennial buyers. Emerging Buying Strategies