(ZEROHEDGE) – The millennial generation has finally reached a critical milestone of more than half owning their homes, according to a new report by the real estate site Apartment List, citing the latest data from the Census Bureau. Compared with other generations, millennials have reached the 50% mark slower than previous generations.
"For a generation whose identity has been shaped by a tumultuous relationship with the housing market, homeownership has been a lofty goal, growing exceedingly expensive and competitive compared to when their parents were coming of age," Apartment List said. The current millennial homeownership rate is 51.5%, while all other generations are between 69% and 78%.
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At the age of 30, 42% of millennials owned their homes, while Gen X had 48%, baby boomers had 51%, and silents had nearly 60%. This gap persists for even the oldest millennials in their early 40s.
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