incomes have grown only modestly and have not kept up with the rise in house prices. As discussed, the impact of house price appreciation and income on the likelihood of homeownership is of similar magnitude
For young adults, renting is often the first choice when forming a household. In a survey conducted by Freddie Mac MultifamilyRenter Researchpdf(Opens a new window), 55 percent of Millennials (currently aged 21-37) think that renting is a good choice for them. To make renting more affordabl...