UrbanLand
From the article:
Gen Y’s homeownership dreams are incredibly strong. Within five years, two-thirds of all survey respondents expect to own their residences, including over half the people who will still be in their 20s in 2015.
In 2010, generation Y surpassed the baby boomers to become America’s largest generation. Over the next 20 years, this 77.4 million–member group will continue to grow as immigrant counterparts arrive in the United States. Gen-Yers are currently 15 to 32 years old, are moving into apartments and buying homes, and will dominate residential demand for much of their lives—similar to the boomers’ impact over the last 45 years. Today’s young adults are not getting the attention they deserve, especially in light of the fact that they account for 25 percent of America’s population.
To get a handle on this young generation’s housing circumstances and future preferences, ULI commissioned an online survey of a national sample of gen Y members who are finished with high school: 18- to 32-year-olds. Conducted last summer, the survey is representative by age cohort, ethnicity, and region of the country. It captures the opinions of a good mix of working people as well as those attending vocational schools and universities. Among the 1,241 respondents, 36 percent are 18 to 24 years old and 64 percent are 25 to 32.
Over one-fourth of surveyed gen-Yers still rely on their parents or their colleges for housing. Among 18- to 24-year-olds, a remarkable 29 percent are still living at home—but so are 14 percent of the 25- to 32-year-olds. This is why psychologists use the phrase "emerging adulthood" to characterize gen-Yers as they move through their 20s and enter their 30s. (Nowadays, parents often contend that age 30 is what 20 used to be.)