Unmarried millennials are twice as likely as boomers to buy homes solo—and 10 times as likely to buy with a friend [Fortune]
Opendoor Technologies Inc (OPEN)
Company Research
Source: Fortune
Generation Y is far more likely to buy a home on their own—or with a friend —than share one with a spouse compared with older generations, according to a new report from personal finance site Bankrate. In fact, in a new survey of over 1,200 homeowners, the company found more than 40% of millennials bought on their own—compared with 34% of Gen Xers and 22% of baby boomers—and 10% of millennials did so with a friend or non-romantic partner. Meanwhile, just 1% of baby boomers and 3% of Gen Xers reported buying with a friend. Older generations were far more likely to buy with a spouse or domestic partner: 70% of boomers did so, as did 56% of Gen Xers. For millennials, that figure was just 47%. The survey results line up with other data about millennials, who, broadly speaking, carry more non-housing debt than previous generations , are getting married later in life, and are becoming homeowners later as well. The new path they are carving is reshaping not only the housing market, but
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