Homebuying not boomers vs. millennials but haves vs. have nots – The Mercury News


Is homeownership adding
to racial, gender disparity?

Re: “Financial sacrifices bigger for younger Bay Area home buyers” (Eastbaytimes.com, Nov. 18):

Homeownership is not boomers vs. millennials, but haves vs. have nots. The article’s author, Louis Hansen, calls out important differences between millennial and baby boomer down payment budgeting, but perhaps the more important distinction is between millennials who are buying homes and those who are not.

Every millennial homeowner I know either: Is older and got in before prices surged, or borrowed a down payment from family. Hansen quotes an agent who refers to it as “the bank of Mom and Dad.”

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