It may just be me, but doesn’t it seem as if the general drift of things is that it’s getting harder and
harder to make ends meet? And that younger people are getting the brunt of it?
If that sounds familiar, it could be one generalization that’s no longer quite so valid when it comes
to younger adults—specifically, about their prospects for owning their own Boise homes.
If we are to believe the Pew Research Center, younger American households are doing pretty well.
In fact, they’re doing better than their elders were at the same time in their youthful careers. Although you
can argue that Boise homes’ prices have risen as well, when you remember how close today’s home loan
interest rates are to historical lows, the outlook for owning Boise homes is hardly gloomy.
The Washington fact tank’s 2019 study is based on the latest census data. Some of the highpoints:
- Household incomes for those headed by Millennials (ages 22 – 37) are higher than at any time in the past 50 years.
- This is true even after the totals are adjusted for inflation.
- The effect is largely due to women in young adult households being paid more.
- The averages hold true even though slightly fewer young adult households are headed by two earners.
Younger earners aren’t the only ones whose ability to own their homes is looking up. According to
the study, Baby Boomers’ household incomes are at record levels, and Gen Xers are matching the
previous highs reached by that age group in the year 2000. As for members of the ‘Silent Generation’
(ages 73 – 90), “the income...in this age group cannot be accurately estimated.” It looks like the elders
among us know how to keep a secret!
Owning your own Boise home isn’t just a luxury to be enjoyed now—it’s also the tried-and-true
way to build and preserve wealth into the future. I’m here to help with any and all of your Boise real