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Keith Srakocic / AP

Avocados aside, almost 80% of millennials plan to buy a home at some point, but aren't prepared for it, according to a study by Apartment List. The study also found that many millennials, especially those in metropolitan areas, significantly underestimate how much a down payment will cost them.

  • Almost 70% of 18- to 34-year-olds have saved less than $1K for a down payment.
  • 40% don't save at all on a monthly basis — even among 25-34 year olds who historically have owned or would be soon owning a home already.
  • Millennials making less than $24K typically save about 10% in general, while those who make more than $72K only save 3.5%.
  • Less than 30% of 25- to 34-year-olds can save enough for a 10% down payment in the next three years.

Why: In the survey, not being able to afford to buy a home was the biggest determent, followed by not being ready to settle down or waiting to get married. Student debt, rent and delayed careers due to the recession could all attribute to the affordability problem, as well as trends in urban areas to spend more on food and entertainment, Wall Street Journal points.out.

Go deeper

The new cold war panic

Illustration: Aïda Amer/Axios

The world has seen a power struggle between nuclear powers before, and has seen those countries inch closer to military conflict. But it's never before seen a cold war between two countries as interconnected — with each other and with the rest of the globe — as the U.S. and China.

Why it matters: Escalating antagonism between the world's two superpowers is likely to hinder global cooperation to fight climate change, divert resources to costly arms and tech races, complicate diplomacy for U.S. allies, and victimize Chinese and American citizens living in each other's countries.

Parkland shooting victims' families settle suit with school district

A makeshift memorial outside Marjory Stoneman Douglas High School in Parkland, Florida, on Feb. 14, 2020. Photo: Matias J. Ocner/Miami Herald/Tribune News Service via Getty Images

Families and survivors of a 2018 mass shooting at a high school in Parkland, Fla., reached a $25 million settlement in their lawsuit against the Broward County school district Monday, per the South Florida SunSentinel.

Why it matters: The deal was reached in the suit over the massacre at Marjory Stoneman Douglas High after the school district won a Florida Supreme Court ruling that could have capped damages at $300,000 in total without approval from the state legislature, AP notes.

Texas Republicans pass new congressional maps in their favor

Photo: Matthew Busch/Bloomberg via Getty Images

The Texas House voted 84-59 late Monday to approve new congressional district maps that reduce the number of districts with Black and Hispanic majorities, per the Texas Tribune.

Why it matters: The legislation comes after recent census figures found Texas' growing diverse population doesn't bode well for Republicans, who then worked to protect incumbents with the redrawn maps.

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