How millennials may have given up on owning the American dream

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millenials text and other wordsNEW YORK (MainStreet) – Are Millennials giving up on the American Dream? Two recent housing studies found real estate isn’t what it used to be.

Many Millennials are in the sweet spot for first time home buying – between the ages of 25 and 34, when Americans have traditionally moved into home ownership – but first-time home buyer rates are down. According to a study by the Harvard Joint Center for Housing Studies, first time home buyer rates dropped from the historical average of 40% dating back to 1981, to 38% in 2013.

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