As the U.S. housing recovery continues, confidence in the housing market in general is rising. This is being driven by a perception of strong current market conditions and strong homeownership goals among current homeowners and renters. Surprisingly, millennial renters (aged 18-34) who were thought to be uninterested in becoming homeowners are expressing a desire to purchase a home someday.
Among millennial renters, 82 percent said they were confident or somewhat confident that they would be able to purchase a home someday. Roughly two-thirds of millennials agreed that owning a home is necessary to living the good life and the American dream. Experts agree that even though there are difficulties, such as saving for a down payment while paying high rent and dealing with student debt, the optimism and confidence voiced by millennials indicates the desire by a creative generation to find creative solutions to achieve homeownership.