For millennials, homeownership is no longer the rite of passage into adulthood that it once was.
Call it a sign of the times. Facing crushing student loan and credit debt and a still-shaky job market, people under the age of 35 account for just 37% of homeowners in the U.S., down from 40% in 2007, according to Census data.
This is despite the fact that it is cheaper to buy a home than rent in just about every major U.S. metro.
“I think that for sure, there are people who are just never going to own,” says Brendon DeSimone, real estate expert for Zillow.