The share of millennials that expect to rent forever has nearly doubled in two years, to nearly one-fifth, according to an annual report from Apartment List.
The rental listing site’s 2021 Millennial Homeownership Report found that, in 2020, 18.2 percent of millennials who don’t currently own homes expected to always rent, up from 12.3 percent in 2019 and 10.7 percent in 2018. Millennials are the largest generation and the report pegged their age range as 24 to 39. The report combined data from the U.S. Census Bureau’s Current Population Survey and Apartment List’s annual renter survey.
Despite stereotypes of millennials not wanting to be tied down, of those who plan to never purchase a home, 74 percent said affordability was the main reason more than double the share who said they prefer the lifestyle benefits of renting such as increased flexibility and avoiding maintenance expenses, Apartment List said.
Claudio Michelacci, Hernán Ruffo
The COVID-19-induced recession has revived a long-term debate between competing narratives about the purposes, efficacy, and efficiency of unemployment insurance benefits (UI). In fact, recent Vox columns have studied the economic importance of UI benefits (Nekoei and Weber 2015, Marinescu 2016, Boone et al. 2017, and Landais et al. 2018).
A narrative we hear from too many US policymakers portrays the enhancement of unemployment benefits in a recession as a fiscally painful step, taken only reluctantly and for as short a time as possible, to support unemployed workers until they take the first job they can find. This narrative is largely based on the notion that workers will generally choose benefits over work and will reduce job search efforts while they receive benefits.
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Two crossed lines that form an X . It indicates a way to close an interaction, or dismiss a notification. People line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort. Reuters
Workers making under $15.30 an hour saw greater losses at the pandemic s start and a slow recovery.
BofA calculates $15.30 an hour as the US median wage.
It s another entry in the pandemic story of a K-shaped recovery.
Workers who earned less than the median hourly wage saw greater job losses when the pandemic started and have seen a slower recovery, according to a new BofA Global Research report.