Just over half of people in the ‘Y’ generation now own homes, but the largest generation also continues to dominate the rental market.

Millennials are now more likely to own a home than rent with 51.5 percent of people in the age range owning a home, reports Alexandra Both for RentCafe. “In fact, this demographic gained 10.8 million homeowners in the last decade, including 7.1 million in the last five years to reach 18.2 million in 2022.”
However, as the largest generation, “Millennials remained the dominant renter generation, with 17.2 million renter households.” According to Both, “Gen Z is now the only renter-majority generation with a 74% share and 4.5 million renters added in the last five years, more than any other age group.”
Both explains that homeownership happened later in life for most Millennials due in part to housing affordability (or lack thereof) and generational values. Homeownership amongst Millennials grew in recent years as median income for their generation reached a historic high and pandemic conditions allowed many to save for a down payment. “Millennial homebuyers also received financial support from their parents for their mortgage down payment, according to a LendingTree survey.”
FULL STORY: Millennials Make Historic Switch From Renter-Majority to Homeowner-Majority Generation

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
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