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In a 2022 survey by Apartment List, a quarter of millennials said they expected to rent forever. And housing experts say that when it comes to homeownership, millennials are the most screwed generation. "Millennials have a much different mindset on life in general than the generation before us," Muller told me. But millennials' housing misfortunes go beyond personal spending habits; they entered adulthood at a terrible time for the housing market. At the same time the housing market was soaring out of control during the pandemic, people were spending more time at home.
Persons: Brigette Muller, she'd, Muller, I'm, Franchesca Ramsey, Marco Zamora, millennials, There's, Jim Parrott, Parrott Ryan, Parrott, they've, Caroline Winkler, Winkler, Alexandra Gater, Hattie Kolp, Benjamin Fix, , Rose Matthes, Matthes, Zamora, messaged, Stardust, she's, Nice, I've, Emily Jensen Organizations: TikTok, Urban, Urban Institute, Urban Outfitters, YouTube, New York, GQ, Street Journal, Fashion Locations: Greenpoint , Brooklyn, Los Angeles, Cincinnati, Washington , DC, reno, Toronto, New York, San Francisco, Denver, Santa Fe, Poplight, Washington ,, Nice, Philadelphia, New, New York City
Like many college graduates, Hattie Kolp needed two major things: a job and somewhere to live. Born and raised in New York, Ms. Kolp always knew she’d be back. California living, she decided after four years attending college outside Los Angeles, wasn’t for her. So with no money and no job, she did what any other 20-something would do: She moved back in with her parents. And Ms. Kolp is still there.
Persons: Hattie Kolp, Kolp, she’d, wasn’t, , — “, Locations: New York, California, Los Angeles, TikTok
Many New Yorkers dream about getting to live in a coveted rent-stabilized apartment — because it means that rent is often unfathomably cheaper than market value. When Kolp and her parents moved into the 1,500-square-foot two-bedroom apartment in 2002, they paid a little less than $1,000 a month. Today Kolp's rent is $1,300 a month. To put that in perspective, the median asking rent for a two-bedroom apartment in the Upper West Side is $4,000 a month, according to StreetEasy data from Feb. 2021. "It's the hugest blessing of my life because I would not be able to afford an apartment of the size on my teacher salary."
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