Younger generation’s debt keeps them renting

By Erica Champion, Published: July 29The Washington Post

The D.C. area apartment market has benefited enormously from a large influx of young, educated college graduates attracted by the availability of jobs during the recession, especially in comparison to many other markets. As a result, the region’s rental housing market has boomed, and developers have begun building many more units throughout the area.

Looking at certain demographic trends, it appears that the future apartment market is bright, given two key traits characterizing the rising echo boom generation — not only are they considered to be one of the most educated in the nation and attracted to the jobs and cultural opportunities a major city such as Washington offers, they are also likely to be saddled with high levels of debt upon entry into the workforce.

Read more…  Article provided by Cruz Rochez

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