{"id":1299,"date":"2018-11-24T10:45:00","date_gmt":"2018-11-24T10:45:00","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2018\/11\/24\/millennials-delaying-homebuying\/"},"modified":"2025-03-13T02:20:24","modified_gmt":"2025-03-13T02:20:24","slug":"millennials-delaying-homebuying","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2018\/11\/24\/millennials-delaying-homebuying\/","title":{"rendered":"Why Are Millennials Delaying Homebuying?"},"content":{"rendered":"

Millennial Outlook Tempered Despite Strong U.S. Economy<\/h2>\n

EY Releases Results of Second National Poll Exploring Millennial Views on Economic Future, Including Business, Career Prospects, and Student Debt.<\/em><\/h6>\n

Today, Ernst & Young LLP (EY) released the results of a survey of Millennials across the country, highlighting how the generation has defined itself a decade after the Great Recession. The results reveal that while Millennials are progressing more quickly than they were just a few years ago, they are still risk averse \u2013 delaying homeownership<\/a>, marriage, and new business endeavors \u2013 and uncertain about their economic future as they manage high levels of student debt and costs of living.<\/p>\n

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In 2016, an EY and Economic Innovation Group (EIG) survey<\/a> found a general lack of optimism among Millennials. The results painted a complex picture of this generation, marked by low economic confidence and uncertainty about the future. Two years later, Millennials have made significant strides, graduating from college, finding full-time jobs, buying houses and settling down at higher rates than Millennials at the same age in 2016. But despite these milestones, they continue to fall behind previous generations.<\/p>\n

Click here<\/a> to view the complete findings.<\/h4>\n
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\u201c<\/strong>Millennials are willing to put in the hard work to advance their careers, and they see themselves as their own best resource to get ahead,\u201d said Marna Ricker, EY Americas Vice Chair of Tax Services. \u201cOur poll shows that nearly 60 percent of Millennials have lofty aspirations of starting their own businesses, but often don\u2019t have the financial capital to do so. It\u2019s time we look forward and focus on nurturing Millennials to become our nation\u2019s next generation of business leaders.\u201d<\/p>\n

\u201cAs we near the end of the first full year under the Tax Cuts and Jobs Act (TCJA), EY\u2019s survey provides businesses and lawmakers with valuable insight into how Millennials view the U.S. economy and government policies. Across party lines, Millennials remain wary about a tax system that they perceive as unfair, and the TCJA did not change that view,\u201d said Cathy Koch, EY Americas Tax Policy Leader. \u201cIt will be interesting to see how this perception affects political debate and future policies as Millennials become policymakers in the coming decades.\u201d<\/p>\n<\/blockquote>\n

Key Stats<\/h4>\n

While Millennials are having children and buying homes, it is at a markedly decreased rate than past generations.<\/p>\n