An Anchorage commercial real estate expert theorizes that millennials have had learned about the challenges associated with owning real estate through their own parent’s experiences. The recession, bank foreclosure, and all other problems accompanying the failures on securing house financing has lead many of them to think that owning a home isn’t as important as it once seemed.
Millennials also tend to delay marriage and family life longer than previous generations. They are more career-focused and are enjoying the many perks of bachelorhood such as fewer responsibilities, less mouths to feed, less worries, and living more comfortably. Without a family, they don’t have problems living in a smaller space which is enough to house their basic needs.