Millennials are the patient generation. In 1960, the median age for a first marriage in America was twenty for women and twenty-three for men. Today, it’s twenty-seven and twenty-nine respectively, according to the latest census data.
They’re having kids later in life, too. The CDC reports the age of a first-time mom, 26.3, is up nearly a year in a half since 2000.
No surprise, then, that millennials aren’t buying houses at the rate other generations did. Instead, millennials are either living with family members, or more likely, stuck in the rental market. This surge in renters, coupled with a slowdown in rental property construction associated with the Great Recession, has caused rents to soar. So will you be stuck paying rent forever? Watch the first episode of our new series, “Compound Interested” to find out.
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