Millennials Defy High Mortgage Rates to Pursue Homeownership
Millennials Reshape Homeownership Trends Although the American Dream of homeownership remains elusive for many, millennials continue to view it as an essential milestone. It is a journey fraught with unprecedented challenges yet ripe with opportunities. For millennials, owning a home is deeply embedded in their vision of success and stability. They are the largest demographic group in the United States. Their pursuit is inherently tied to the broader economic environment marked by affordability challenges. High home prices and soaring mortgage rates have raised significant barriers. According to recent surveys, 51% of Americans intend to buy a home in 2025, with millennials being keen participants despite the high mortgage rates that concern many. As increased tariffs contribute to rising construction costs, affordability becomes an even bigger issue for those looking to enter the housing market. As costs undermine their purchasing power, millennials traverse a market with limited in...