PIVOT TO Makeovers!
Millennials Have A Solution For The Housing Crunch
Millennials are giving up on buying their dream home — and spending thousands of dollars to renovate their rentals instead.
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The Lede
Across the country, millennials who are being forced to rent further into adulthood than previous generations are valuing present experiences over saving for a stable future that may never come — financial risks be damned. As they're rethinking what's worth their investment, many are prioritizing what's right in front of them.
Key Details
- Housing experts say that when it comes to homeownership, millennials are the most screwed generation.
- Rather than lowering prices and demand, high interest rates have locked many homeowners into place, preventing entry-level homeowners from upgrading and making those units available to first-time buyers.
- "So many of us put money into our rentals because we are trying to make it feel like the warm, inviting space that we need in our life," said author Mercury Stardust.