Millennials now prioritize homeownership over starting a family

Record amounts of student debt and steadily increasing mortgage rates have long prevented young adults from entering the housing market, but recent data may indicate that things are about to change in a major way. A new study by Bank of America reveals that Millennials are now prioritizing homeownership above other major life milestones, including starting a family. ��This fall’s report finds that Millennials are redefining life’s priorities by placing homeownership above nearly all other key milestones, including marriage,” Bank of America Consumer Lending Managing Director Steve Boland said. “Millennials equate homeownership with personal and financial success, and it’s encouraging to see this generation aspire to homeownership.”