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Millennial renters are giving up on homeownership, as COVID-19 and financial struggles make 1 in 5 say it'll never happen


Millennial renters are giving up on homeownership, as COVID-19 and financial struggles make 1 in 5 say it’ll never happen
Darcel Rockett, Chicago Tribune
© Brian Cassella / Chicago Tribune/Chicago Tribune/TNS
Laura Klauser in her Chicago apartment, Feb. 16, 2021.
CHICAGO Laura Klauser sometimes finds herself looking at home listings online and can’t help but laugh.
“When I look at the cost of buying a place, especially on my own, it’s not doable,” said Klauser, 33, who rents an apartment in Avondale and works as a freelance makeup artist. “I’m currently in a place where I’m splitting rent with someone, so my living expenses are a lot lower.” ....

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Millennial Renters Giving Up On Owning A Home Amid Pandemic Struggles


Millennial Renters Giving Up On Owning A Home Amid Pandemic Struggles
Chicago Tribune (IL)
Laura Klauser sometimes finds herself looking at home listings online and can’t help but laugh.
“When I look at the cost of buying a place, especially on my own, it’s not doable,” said Klauser, 33, who rents an apartment in Avondale and works as a freelance makeup artist. “I’m currently in a place where I’m splitting rent with someone, so my living expenses are a lot lower.”
Klauser is among the almost 1 in 5 millennial renters who believe they will never own a home, according to a recent report from ApartmentList.com. Up from 12% a year ago, 18% of U.S. renters ages 24 to 39 said they expect they will always rent, and 74% of those renters said it’s because they cannot afford to buy a home. ....

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