The housing industry is taking quite a turn with over 57% of millennial claiming that they view investing in a home as a high risk investment to indulge in. This could be partially due to 45% of current homeowners advising millennials to continue renting instead of investing in a new home. These statistics are super surprising considering the majority of the millennial population have reported being interested in investing in cryptocurrencies like Bitcoin and other new digital incentives.
Key Takeaways:
- Those who currently own homes are warning the millennial generation that they may want to avoid home investments right now.
- The renting economy is steadily booming in all industries, whether it be the entertainment or housing industries.
- Milennials show more interest in investing in trending cryptocurrencies than they do when it comes to home ownership.
“Another 45% said their monthly costs are much more than when they were renting and 49% claimed they lived in more convenient locations when living as a tenant.”