Millennials are experiencing economic challenges largely due to the housing market, exacerbated by a lack of affordable homes and delayed construction following the 2008 crisis. As this generation reaches peak homebuying age, they find limited options available. However, demographic shifts suggest a potential easing of the situation in the coming decade. Population trends indicate that as baby boomers exit the housing market, a surplus of homes might occur, possibly lowering prices. Despite this, millennials may find themselves still at a disadvantage as Gen Z enters the market.
There's no denying that Americans are getting older. Slower population growth over the next decade will mean weaker demand for housing as baby boomers age out.
The lack of affordable homes is one of the biggest reasons for millennials' economic shortcomings and why they can't catch up to their parents financially.
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