Millennials are having a tough go at joining the homeownership ranks – with low inventory, wages still struggling to keep up, and college debt, owning a home can seem like an impossible feat.
The Urban Institute recently released a survey asking millennials why they haven’t jumped into homeownership yet. Their answers may surprise you:
Companies have been trying to bridge the gap between renting and home owning; and WeLive has created a possible solution. The transition from living at home with your parents into affordable housing (whether renting or owning) can seem tricky: but this company has created co-living units in the New York and D.C. Area as a test. The units tend to cost less than similar buildings in the area. They offer a shared space – like kitchens, and/or work areas.
Would you be interested in living in one of these co-living units?
For more real estate topics, check out AmeriTitle’s Blog.