First American Chief Economist Mark Fleming explains in an article on HousingWire why reaching a low point in homeownership is no reason to panic about the housing market.

“As the biggest demographic group in American history finishes their education and gets jobs, they are naturally doing what so many generations before them have done – renting a place to live. Will they stay renters forever? Doubtful. Surveys suggest that the dream of homeownership is far from tarnished, just possibly delayed. In the meantime, the homeownership rate may yet decline further. But make no mistake, once Millennial renters decide to become homeowners it will be a housing boom of a different kind.”

Read the full article on HousingWire