It's time to stop talking about the nesting habits of the North American millennial says Mortgage News Daily's Rob Chrisman. 

The whole conversation--the rent vs. buy equation, the rising cost of rent, the millennial love of urban cores, their delayed life decisions and suspended adolescence--is starting to sound like a broken record. 

While single-family housing supply is low, production is slowly ramping up just as rents reach a fever pitch. Yet, many developers are still pushing rentals on Gen Y and building micro-apartments as an attempt to answer to their housing wants and needs. 

A new Harvard study points out how the rent vs buy decision is becoming even more skewed towards buying as rental inflation continues to increase. The number of US households that spend at least half their income on rent could increase 25% to almost 15 million over the next decade. 

Note that the homebuilders are pretty much all venturing into multi-family housing as well as single family, which should alleviate this problem at least to some extent. We have had a production deficit for single and multi-fam construction for several years, prices keep rising, and yet housing starts remain at about 75% of normal levels (ignoring the boom and bust years).

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