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More Millennials Rent, and More Want to Own

The number of homeowning respondents went down from five years ago, but more respondents said they see themselves owning five years from now.

May 14, 2015

An avalanche of studies on whether or not Millennials want to own a home have been done with inconsistent results. One new study released by the Urban Land Institute offers another angle.

According to The Wall Street Journal, ULI’s recently released study found that along with the increase of American renters aged 19-36, is an increase in the number of Americans in this age group that want to own a single-family detached home in the suburbs.

The latest survey also found that only 26 percent of respondents said they own their home, down from 35 percent in a 2010 survey. But 70 percent of respondents anticipate owning a home by 2020, an increase from the 67 percent in 2010 that said they will be homeowners by 2015.

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