Home-buying site found recently that while the typical 23- to 34-year-old makes enough to afford some 70% of residences in most major cities, far fewer properties are within their reach in locales with the hottest economies.
Gudell says young adults stuck living in their parents' basements have hurt the housing market and the broader economy by failing to generate demand that would have otherwise sparked fresh home construction.
The economist says things are improving nationwide, but that some cities where Millennials are finding the best jobs have the smallest selection of homes they can actually afford.
That's because the typical residence there costs $873,600 — the highest median for any metro area in America. Labor Department data for households headed by 23- to 34-year-olds.
"I hate to say it, but even if you make a quarter of a million dollars in this valley, that's chump change," says Craig Gorman, president of the Santa Clara County Association of Realtors and sales manager for San Jose's Intero Real Estate Services. (Millennials living with their parents weren't counted.) Researchers used Zillow's fourth-quarter 2014 property listings for their study and assumed that buyers would purchase places using mortgages carrying 3.98% interest rates.
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When the original Nike Air Max debuted in 1987, it was the first shoe to showcase a large, visible Air-cushioning unit.
In 1995, the Air Max 95 evolved the technology by placing an Air unit along the entire sole.
Incremental steps followed, and now Air Max builds upon its nearly 30-year legacy with a leap: the Nike Air Vapor Max, which pays off the full promise of Air — to provide lightweight, consistent cushioning that lasts.
The former innovation allows additional Air to be integrated into the unit while the latter allows for more extreme Air geometries that enable designers to place even more Air directly underfoot.
Together, these capabilities wholly eliminate the need for a traditional foam midsole.
On the Nike Air Vapor Max, the Air unit is paired with a Nike Flyknit upper that integrates precise support and further reduces the shoe’s weight.