Being a millennial, I have experienced major tragedies to the United States of America. And this includes the “Great Recession” from 2008-2012. Based on the current economic status of the United States, the housing market is rebuilding and growing stronger every day. Of course, recovering from such a devastating event is going to take time and effort. The effects from the Great Recession are still being felt to this day. This is putting millennials in a tough situation to pursue home buying. The positives of home buying can certainly outweigh the negatives. First, it gives millennials a sense of pride and prestige knowing they now own their own home. This may seem like an off topic positive reason, but this can eventually lead to a person feeling …show more content…
Based on current statistics, housing values are increasing, and the country’s GDP is also increasing. This gives millennials an incentive to begin buying a home to place their residency. The negatives of home buying include millennials renting rather buying, and affordability. Although the economy is growing stronger, the Great Recession is still present among us. Many millennials simply do not make enough money to purchase a house at this moment. The economy is slowly getting better, but it leaves a lot of millennials in an uncomfortable position to either rent or buy. As home prices increased, the wages of the workers did not. It has left many millennials with only enough income to rent housing. This seems to be the norm right now in today’s society. Millennials choosing to rent an apartment or home for an allotted amount of time until they earn more at their job, or receive a better opportunity elsewhere. Referencing the last negative, another reason is the affordability issue. To help generate more revenue and pursue the ultimate home in the future, millennials are going to college. In doing this, most students enter into