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Imbalance in Housing Aid: Mortgage Interest Deduction vs. Section 8

With the tax reform debate now fully underway, Apartment List examined the popular mortgage interest deduction (MID) and compared federal expenditure on the MID to spending on Section 8 rental assistance programs. In 2015, federal expenditure on the MID was more than double the funding for Section 8. Additionally, the MID is a highly regressive benefit, with 85 percent of expenditure going to high-income households.

American Dream of Homeownership Delayed for Millennial Generation

In a nationwide survey of about 24,000 renters, Apartment List found that the 80 percent of millennial renters want to purchase a house or condo, but most are a long way from being able to afford to actually do so. Of those respondents who plan to purchase a home in the future, some 72 percent said affordability is the primary obstacle, and 68 percent of millennials said they have saved less than $1,000 for a down payment. Based on current savings rates, millennials in many metros will need a decade or more to save enough for a down payment.

Where are millennials moving to?

Millennials form the largest generation in the US, numbering more than 75 million nationwide. As this young, mobile group enters the workforce and forms new households, their decisions have a significant impact on the cities they choose to live in. Today, we look at Census data from 2005-2015, to understand where young Americans are moving to and choosing to settle down. How does your city stack up?