A recent survey reported that 80 percent of millennials – those born between 1982 and 2004 – want to own a home someday; they’re just having trouble saving for the down payment.
With the price of homes in California these days a down payment of 20 percent averages around $146,000. Figuring a savings plan of $360 per month, that comes to nearly 24 years to save what is needed.
Analysts agree that the high price of homes plus often massive student debt is forcing more and more millennials to delay home ownership.
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