Half of the millennial generation said COVID-19 has negatively affected their homeownership plans, with 61% saying it has canceled or delayed their plans to own a home, according to a study conducted by Legal & General Group. The proprietary research into the attitudes and changes, as well as geographic shifts millennials in the U.S. are experiencing about home purchases and affordable housing, was compiled using original survey data of 875 millennials who don’t own a property. All surveys were carried out online during March and April of 2021. The results also showed that 68% of millennials said the pandemic had some impact on their thinking about where they could live and 36% of millennial parents and those already saving for a home want to move to smaller cities/towns. Among U.S. millennials living in suburban areas, 27% completely abandoned their home-owning plans because of COVID-19.
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