Why Millennials Aren’t Buying Homes

In Generation Priced Out, Randy Shaw examines how Boomers have blocked affordable housing in urban neighborhoods, leaving Millennial homebuyers in the lurch.

Millennials are not buying homes at the rate their predecessors did at the same point in their lives. Some of this can be chalked up to the burdens of student debt and high rent. But author Randy Shaw tells CityLab that there’s another likely factor at play: Baby-boomer property owners in desirable cities have successfully stymied new housing developments in their areas. And the limited supply has kept prices out of reach for many younger buyers.

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