Millennials buying homes

The conundrum surrounding climate change can best be illustrated by looking at millennial's. These are the 23 to 35 year olds who are entering the work market. They are very vocal in their concern about climate change but their actions belie their words The back to the city trend has been reversed and millennial's are moving to the suburbs in droves. They are buying homes and commuting to work like many older folks and buying is increasing as mortgage rates are coming down. If the household income is under $100,000 they can qualify for first time home buyer credits of $8.500. A $250,000 home requires 3.5% down on a FHA loan and this can be covered. The current rate on a 30 year loan is 3.5% so the principal and interest payment is $1,125, add in taxes and insurance and your at $1,350 which is less than the average home rental in Minneapolis. It is less expensive to buy than to rent and that is the way these young people are going.