Millennials Cause Home Ownership to Drop to Lowest Level Since 1965 | NBC New York

Millennials Cause Home Ownership to Drop to Lowest Level Since 1965

The group is delaying other life choices like marriage and parenthood

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    The home ownership rate has dropped to its lowest level since 1965 due to delays by millennials to jump into the market.

    The nation’s home ownership rate fell to its all-time low, and could drop further in the months to come, NBC News reported. 

    The rate fell to 62.9 percent, the same as it was in 1965, when the U.S. Census started tracking the metric.

    The drop is largely due to a delay in home ownership by millennials, who are burdened by student loan debt and are delaying life choices like marriage and parenthood. They have the lowest ownership rate of their age group in history. 

    "While the millennial home ownership rate continues to decline, it's important to note that the decrease could be just as likely due to new renter household formation as it is their ability to buy homes," wrote Ralph McLaughlin, chief economist at Trulia. "Certainly low inventory and affordability isn't helping their efforts to own, but moving out of their parents' basement and into a rental unit is also a good sign for the housing market." 

    Pig Escapes Slaughterhouse Fate, Sells Original Paintings

    [NATL] Pig Escapes Slaughterhouse Fate, Sells Original Paintings

    A pig who escaped slaughter is now living out her life in a South African sanctuary and painting original works that have sold for up to $2,000.

    "She was really small when I rescued her," said Joanne Lefson, who manages the South African Farm Sanctuary, a haven for rescued farm animals where the pig now lives. "She's very smart and intelligent so I placed a few balls and some paintbrushes and things in her pen, and it wasn't long before I discovered that she really liked the bristles and the paintbrush...She just really took a knack for it."

    Funds from the art sales go towards the sanctuary.

    (Published 6 hours ago)