But millennials, the eldest of the group being in their early 40s, aren’t giving up. In fact, in 2022, homeownership for the cohort was above 50% for the first time, reports BI.
Still, while some millennials are spending seven figures buying and renovating their homes, others are giving up on homeownership completely. Instead, they’re reprioritizing how they’re spending their money and what they’re choosing to invest in.
Brigette Muller told Business Insider she’d rather invest in her Brooklyn apartment. The 36-year-old spent $20,000 renovating her rental — and said she has no regrets.
“I just want to have a space that I feel good in,” she said.