The stereotype of the typical millennial renter living at home in mom’s basement may turn out to be not entirely accurate.
While we’re sure there is still a fair share of stereotypical millennials, there’s also many – some of whom are getting close to turning 40 – who are middle aged homeowners, looking to pay down debt and improve their financial situation by contributing to their retirement.
A new CNBC survey revealed that despite millennials constantly being painted as renters, many are actually now homeowners. The data comes as a result of a survey that polled 1,000 U.S. adults ages 33 to 40.
“Most older millennials have owned their home for several years,” the survey found, with over half of them buying their home more than 5 years ago. 40% have owned their home one to five years.