Every month a myriad of research and articles are published regarding millennial spending habits and home buying. Recently, comments from a wealthy developer made waves in the news blaming the low home-ownership rates among millennials to their frivolous spending habits – including things like $19 Avocado toasts and $4 coffees.
But we ask – is it frivolous spending habits that make young people less likely to buy a home? Or are young people today, burdened with greater amounts of student debt than previous generations, working with tighter budgets and unable to save enough to afford a down payment?
To answer this question, SP Group aggregated data specifically representative of the millennial age group to analyze their average income and average spending levels.
Read more and interact with our Time to Down Payment Calculator by clicking here.
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