And that's why they say that people who rent have virtually no equity relative to those who build family wealth through home ownership.

They are both potential first time buyers.  

Millennials don't want to own stuff. They want to do stuff. Many of them feel that the world is just too impermanent and the future too uncertain to invest in. The ones that do the math and really are interested in investing are pretty smart, from what I've seen.

Yay - my daughter is spending 24% - I am so glad she got a good job and a room mate! 

You wouldn't like my answer so I'll keep it to myself

Time for more tiny houses

Jack Lewitz According to Market Watch more than half of the millennials have less than $1,000 in savings. Could be the reason why they have to rent.

That may change if we get a Real Estate centered person in the White House

I only know they don't like to be called millennials most of the time.

they're not into the rat race that goes along with high earnings.... they want their free time to do as they wish, from what I've seen....

Poor planning and budgeting like this is why both will never build a future for themselves.

The poor kind of have a reason, but the 70K person is just irresponsible.

I am assuming you mentioned MILLENNIALS for a specific reason.

There are those at all income levels who rent. the higher earners by choice, the low earners by necessity.

But the population group you identify are those who grew up with FaceBook, created the friend referral industry, place quality of life closer to the front earlier than those who preceded them. And finally, the are the drivers behind the sharing economy, the AirBNB, Lyft, Guber, Amazon, and on and on. 

Barbara Todaro hinted at this, and correctly so. The priorities of the millennial may differ from that possessed by those older than they are. Some of those priorities include owning later, pre-repurposing, what gives my life greater fulfillment.

Irresponsible? We'll see what their pharmaceutics bills are with they reach 55.

I sorta figured something like that.  And what Nina Hollander said

interesting

Interesting stastics

Interesting.

I find more and more millennial that o not want he responsibility of ownership.  They don't want to work on upkeep

I didn't know that. Rents are exceedingly high in my area too.

As a landlord, I love my tenants...as a Broker, I want everyone to own their own home...

Anna Hatridge : Bingo ......the right answer!

I would have guessed that those earning less that $25K would be spending more.

Wow ... and yet I am not surprised.

The only thing I've known is ownership other than vacation type rentals although I see the attraction considering their chameleon like lifestyles. There's freedom in the ability to pick up and move in an instant.

Interesting info.

They both live at home.....

I thought that might be the answer.

Wow