If millennials were not buying homes at similar rates to their parents, the home ownership rate would be declining
There is no need for hypotheticals, we know for a fact they are not buying homws at a similar rate as their parents
Home ownership rates for people under 35 is the same as it was in the mid-90’s and only a few % lower than it was at the peak of the housing bubble
People still talk about millennials as if they are still in their 20s, but the oldest millennials are now 40. I'd guess that age of first home purchase has been trending up for a while.
More people are investing in real-estate, and less millenials are buying.
Millennials made up 43% of home-buyers in 2021, the largest of any generation. That's up from 37% in 2020.