Millennials and the Z-Rers generation are struggling to buy houses in most states, and it is little surprise why. Millennials reached the age of majority in the midst of the housing crisis and the great recession, while General Z-Ers entered the workforce directly to the pandemic, an interrupted labor market, shooting the prices of the houses and the low inventory. The load of the high debt of student loans has not helped either.
To find the states where people under 35 have been able to buy houses, Evernest researchers, a management company that excessive more than 22,000 properties in the United States, examined the housing property rate of the cohort, the local price and others. They used recent Zillow data, the census, market reports and other sources.
The winning formula, as expected, seems to be an advantageous relationship or salaries for housing prices. Minnesota had the highest home rate among the population under 35, with 50.8 percent. The annual income for young adults was almost $ 95,000, while the average house sale price was approximately $ 323,000. House rates were similar in West Virginia, Alabama, Mississippi and Kentucky, where young adults wages average below $ 70,000 and the prices of the sale of homes average below $ 225,000.
In Hawaii, that the lowest rate of the house of the house of the young adult (24.5 percent), the average income of young adults of $ 94,200 reveals to Minnestas, but the average price of the housing of $ 849000 is the highest in the country.
In each minus minnesota state, less than half of the population of less than 35 has households. In 16 states it is less than 40 percent. And this problem is not reserved for young people. The high interest rates, low inventory and wages and stagnant inflation have made housing ownership a problem for all. In the expectation of California, Hawaii and New York, only approximately half of all adults and only around a quarter of the homes of young adults. According to the new census data, the home -owned rate for all generations is at a minimum of five years, at approximately 62 percent.
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