Issue 3 • Week of January 30, 2022
The United States -- the largest economy ever and one of the largest countries in history, with one of the lowest modern population densities -- does not have enough housing to fulfill the demand of its middle class. This paradox did not happen overnight, but its effects are far-reaching.
Only 42% of millennials have been homeowners by the time they reach age 30, compared to 48% of Generation X and 51% of baby boomers at the same age. The pandemic and mounting financial struggles have already convinced 1 in 5 millennials that they will never own a residence.