Younger millennials, aged 23 to 31, made up a substantial 18% of homebuyers this year, according to a study by the National Association of Realtors, and are the highest educated age group. So why does buying a house at 27 years old seem so difficult for me?
If I’d known a typical evening in my late 20s would be spent wistfully scrolling Zillow with a glass of red blend to ease the pain, I would have made some different choices. Perhaps I should have followed some of my friends into the consulting industry rather than stick with journalism — those friends are making six figures while I contemplate whether dental insurance is really “worth it.”
Or maybe I should have settled down somewhere more affordable than California. Maybe I should have pulled the trigger on a place back in 2021 when low interest rates were all the rage, but the bidding wars scared me off; or in 2019, when I had less saved up for a down payment but prices were comparably low.
The pandemic was a wild time for real estate, more so than many young adults realize. For those who grew up during the Great Recession and are now entering the house hunting arena, these extreme highs and lows may be misinterpreted as normal. Will there ever be a right time for us millennials to become homeowners?