Millennials Cause Home Ownership to Drop to Lowest Level Since 1965 | NBC 7 San Diego
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Millennials Cause Home Ownership to Drop to Lowest Level Since 1965

The group is delaying other life choices like marriage and parenthood



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    The home ownership rate has dropped to its lowest level since 1965 due to delays by millennials to jump into the market.

    The nation’s home ownership rate fell to its all-time low, and could drop further in the months to come, NBC News reported. 

    The rate fell to 62.9 percent, the same as it was in 1965, when the U.S. Census started tracking the metric.

    The drop is largely due to a delay in home ownership by millennials, who are burdened by student loan debt and are delaying life choices like marriage and parenthood. They have the lowest ownership rate of their age group in history. 

    "While the millennial home ownership rate continues to decline, it's important to note that the decrease could be just as likely due to new renter household formation as it is their ability to buy homes," wrote Ralph McLaughlin, chief economist at Trulia. "Certainly low inventory and affordability isn't helping their efforts to own, but moving out of their parents' basement and into a rental unit is also a good sign for the housing market." 

    Baby Lemur Makes London Zoo Debut

    [NATL-DFW] Baby Lemur Makes London Zoo Debut

    London Zoo is welcoming the first ever baby aye-aye lemur just in time for Halloween.

    The creepy-looking creature was actually born on July 1 but has only emerged from its secluded nesting box for the first time this week.

    The species of lemur (formally known as Daubentonia madagascariensis) are unique in that they have an unusually large middle finger and are associated with doom in their native Madagascar. Natives there believe that if an aye-aye points its long finger at you, death is not far away.

    Zookeepers expressed their excitement at the birth although they only saw the baby recently as it has been hiding in its nest box.

    (Published 44 minutes ago)