Despite the notion that the two million adults living with their parents are saving money for a property , a new survey shows that 40 % of millennials have less than $ 1,000 of savings , in addition to being burdened with student loans . The few that have a chance to compete are high earning professionals that still need to leverage into giant mortgages. Foreign money , corporate dominance and high prices for properties in desirable neighborhoods are contributing to what this commentator calls ‘ rental Armageddon , ’ concluding that millennials are in no position to control the housing market .
Despite the notion that the two million adults living with their parents are saving money for a property , a new survey shows that 40 % of millennials have less than $ 1,000 of savings , in addition to being burdened with student loans . Foreign money , corporate dominance and high prices for properties in desirable neighborhoods are contributing to what this commentator calls ‘ rental Armageddon , ’ concluding that millennials are in no position to control the housing market .