Nearly half of Millennials say a high cost of living is them from buying homes. Bankrate found that 45% of 23-38-year-olds blame living costs for holding them back from becoming homeowners, compared to 38% of Gen X and 31% of Boomers. Rising housing prices that outpace inflation rates paired with mounting college debt (which 23% pointed to as the reason they’re not buying real estate) are causing young people to make what Bankrate calls “a risky move” that Millennials are more prone to than any other generation: paying for their first home with their retirement savings. (Newsweek)
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