The Urban Institute has a new study out that looks to explain why Millennial homeownership rates are lower than that of previous generations. The
The Urban Institute has a new study out that looks to explain why Millennial homeownership rates are lower than that of previous generations. The
The Urban Institute has a new study out that looks to explain why Millennial homeownership rates are lower than that of previous generations. The
Not surprisingly, marriage and kids are significant drivers, and Millennials appear to be delaying both. According to the study, being married increases the probability of owning a home by 18%. If marriage rates in 2015 were the same as they were in 1990 (this is the time period for the study), the Millennial homeownership rate would be 5% higher. Having a kid increases the probability by about 6.2%.
There’s also a widening spread between the homeownership rates for more educated and less educated Millennials. Presumably the distinction is a 4 year university degree. Between 1990 and 2015, the spread between the two groups increased from 3.3% to 9.7%. This was identified as an area of “great concern” because of the possible long term implications.
Combine this phenomenon with the stats that white households have a higher homeownership rate compared to all other racial groups and that having parents who are homeowners increases the likelihood of also owning a home (let’s ignore, for a second, the other intergenerational transfers of wealth), and you have a recipe for rising wealth disparities.
Of course, some of you will undoubtedly argue that in this part of the world we are overly fixated on homeownership as a mechanism for wealth creation. I mean, there are many examples of very wealthy countries with homeownership rates that are far less than what they are here in Canada and the US. But that’s a discussion for a different blog post.
If you’d like to go through the full Millennial Homeownership report, you can do that here.
I just recently discovered the work of Montréal-based firm, Alain Carle Architecte. If you aren’t familiar with their work, do yourself a favor and check it out here. They are apparently known for their secondary homes across the country.
The project that caught my attention was their True North home in Cornwall, Ontario. Here are two photos by renowned architecture and design photographer Adrien Williams (also of Montréal).
The video below is a good follow-up to my recent post about the 100 million city and the rapid population growth that we are seeing in some parts of the developing world.
If you can’t see the embedded video below, click here.
[youtube https://www.youtube.com/watch?v=SvM7jFZGAec?rel=0&w=560&h=315]
It’s a video about what is allegedly the “first permitted, 3D-printed home in America” – an 800 square foot home that was built/printed in Austin during SXSW in about 24 hours.
The project is a partnership between New Story (a non-profit) and ICON (a construction technologies company), and the goal is to pioneer a fast and cheap housing model for the developing world.
The cost for the above home is said to be about $4,000.
Not surprisingly, marriage and kids are significant drivers, and Millennials appear to be delaying both. According to the study, being married increases the probability of owning a home by 18%. If marriage rates in 2015 were the same as they were in 1990 (this is the time period for the study), the Millennial homeownership rate would be 5% higher. Having a kid increases the probability by about 6.2%.
There’s also a widening spread between the homeownership rates for more educated and less educated Millennials. Presumably the distinction is a 4 year university degree. Between 1990 and 2015, the spread between the two groups increased from 3.3% to 9.7%. This was identified as an area of “great concern” because of the possible long term implications.
Combine this phenomenon with the stats that white households have a higher homeownership rate compared to all other racial groups and that having parents who are homeowners increases the likelihood of also owning a home (let’s ignore, for a second, the other intergenerational transfers of wealth), and you have a recipe for rising wealth disparities.
Of course, some of you will undoubtedly argue that in this part of the world we are overly fixated on homeownership as a mechanism for wealth creation. I mean, there are many examples of very wealthy countries with homeownership rates that are far less than what they are here in Canada and the US. But that’s a discussion for a different blog post.
If you’d like to go through the full Millennial Homeownership report, you can do that here.
I just recently discovered the work of Montréal-based firm, Alain Carle Architecte. If you aren’t familiar with their work, do yourself a favor and check it out here. They are apparently known for their secondary homes across the country.
The project that caught my attention was their True North home in Cornwall, Ontario. Here are two photos by renowned architecture and design photographer Adrien Williams (also of Montréal).
The video below is a good follow-up to my recent post about the 100 million city and the rapid population growth that we are seeing in some parts of the developing world.
If you can’t see the embedded video below, click here.
[youtube https://www.youtube.com/watch?v=SvM7jFZGAec?rel=0&w=560&h=315]
It’s a video about what is allegedly the “first permitted, 3D-printed home in America” – an 800 square foot home that was built/printed in Austin during SXSW in about 24 hours.
The project is a partnership between New Story (a non-profit) and ICON (a construction technologies company), and the goal is to pioneer a fast and cheap housing model for the developing world.
The cost for the above home is said to be about $4,000.
And here is a plan via Dezeen.
The concrete and black metal cladding against the snow is pure magic. I also love the way they employed black screens to create a gradient across the landscape and frame some of the outdoor spaces. You really see that in the plan.
The shadows these screens cast on the concrete are also quite beautiful.
And here is a plan via Dezeen.
The concrete and black metal cladding against the snow is pure magic. I also love the way they employed black screens to create a gradient across the landscape and frame some of the outdoor spaces. You really see that in the plan.
The shadows these screens cast on the concrete are also quite beautiful.
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