Homeownership

Millennials aren't ready for recession

Illustration: Aïda Amer/Axios

The American dream is on hold.

By the numbers: Millennial homeownership is 8 percentage points lower than previous generations at this age. Student debt is at $1.5 trillion, with defaults rising. Just 37% of Americans under 35 owned stocks last year, vs. 55% in 2001.

Why the downward trend in homeownership rates won't reverse itself

Graphs detailing the data.
Data: U.S. Census Bureau; Chart: Naema Ahmed/Axios

The housing market is showing signs of life. Mortgages are being refinanced at astonishing rates, housing is more affordable thanks to lower interest rates, and Fannie Mae's housing sentiment index is at an all-time high.

Yet, but: Homeownership rates have plunged over the past 15 years, in a trend that won't (and shouldn't) reverse itself.