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Home ownership is still the American dream – the dreamers are just getting older. A recent study found that compared to 1980, people are buying homes at least a decade later in life in Florida, California, Hawaii, New York, Nevada, Georgia and Mississippi.
The biggest decline is in California homeowners born between 1980-2020. The share of 25- to 35-year-olds who own their home dropped from 39.4% to 15.5% and 35- to 45-year-olds from 64.4% to 39.7%. Alaska’s the only state where homeowners are getting younger: The majority of Alaskans owned a home by age 35 in 2021, compared to 36 in 2000.
– Vikki Locke, C2 Communications, The SWFL 100