Unless you live under a rock, you’ve probably read some think piece about how millenials aren’t buying homes. Sometimes this is construed as a cultural thing, but it probably has more to due with coming of age during and after the Great Recession.
In any case, according to a BBC article, that’s not universally the case. In China, 70% of millennials own their own home and 91% plan to buy one in the next five years. Meanwhile, in Mexico, 46% of millennials own property and, in France, 41% do. The US edges out the UK and the UAE for the fourth spot, with 35% owning property.
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When you live in a country where savings accounts yield negative interest, you tend to put your savings in other mediums.
I think your comment might miss the point entirely. In the US, millenials earn less in real wages than their parents generation, while they are on the average more educated. If Chinese millenials have enough savings to put that savings into real estate investment then their economy is serving them much better than the US economy is serving our Millenials.
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