Philly Millennials not buying homeownership as American Dream
According to researchers at Zillow, millennials are fairly likely to associate home ownership with the American Dream throughout the nation. By their calculations – and according to a recently announced study – some 65.3 percent of 18-34 year-olds nationally believe there is a link between the ideas.
In the Los Angeles-Long Beach-Anaheim region, that number is as high as 86.9 percent. In metropolitan areas including New York and northern New Jersey, Miami-Fort Lauderdale, Phoenix and Las Vegas, the frequency with which millennials agree that home ownership and the American Dream are related is greater than 70 percent.
And then there's Philadelphia, with just 44 percent of 18-34 year-olds in agreement. That figure makes the city the serious outlier in the study, with skeptical young people outnumbering their elders fairly significantly. The next closest measurement comes from San Diego, where 54.1 percent of the metro millennials link home buying with those American ideals.
Hard to argue with the Philly cohort, especially when the rental market is so hot and new construction is breaking ground at every corner. Interestingly, Zillow researchers found that Millennials were more likely to have confidence in the housing market than other age cohorts, citing an increased belief in home value appreciation over a decade.
But most of your average home listings are not going to include private wine storage, dog walking and rooftop pools, are they?
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