Invest in our next generation of homeownership

About 50 years ago, young college graduates wouldn’t have guessed their ability to afford a home. Despite the education that forced them into debt, they were assured that their higher degrees would lead to better paying jobs and thus put a decent, secure and affordable roof over their heads.

This cannot be said for today’s millennials (18-34 years old). According to Pew Research, more than 47% of young adults now return home to live with their parents. For more recent graduates, returning home is their only option to pay for their higher degrees.

With the cost of education skyrocketing, many young adults have to give up starting their independent lives until they have paid off their debts. Even the president’s recently announced loan cancellation only taints the deep debt that many students are acquiring. In addition, the labor market does not favor home ownership for young people. Professions like education, nursing and social services pay so little that young adults in some parts of the country have roommates or live with their parents while establishing their careers.

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