Study finds more millennials are preparing for a life of renting
SAN DIEGO (KUSI) – More millenials are planning on renting homes for the rest of their lives. According to a new study by apartment list, nearly 13 percent of millennials have no plan to ever own a home, that is up from 10 percent last year.
The biggest factors is a lack of affordability and student loan debt.
The study also found that while the majority of millennials support home-ownership, nearly half of millennial renters do not have savings set aside for a down payment.
Real Estate Agent Carlos Gutierrez was in studio to discuss why more millennials are preparing for a life of renting.