Sunrise Management & Consulting President Jesse Holland was recently interviewed by a reporter from the Times Union for an article entitled “For millennials, homeownership a dream deferred.” According to the article, the number of Millenials still living in their parents’ homes is on the rise.
Nationally, more than one-third of Americans ages 18 to 34 are still living in their parents’ homes, according to the Census Bureau. In New York state, that number climbed by 7 1/2 percentage points since 2005 to 40.6 percent. Economic conditions, coupled with changing social trends, have in turn suppressed marriage rates. In 2016, 42 percent of Americans ages 25 to 34 were living with a spouse, compared to 82 percent in 1963, according to the Pew Research Center.
“Homeownership is traditionally a stage in life,” Holland said. “When you’re single and trying to figure out what your career is going to be, you tend to be more flexible and not tied into the responsibilities of homeownership.”
“Millennials are sort of delaying that stage in life,” he said.
To read the full article, please click on the images below to go to the Times Union website.