Unfortunately, the truth is not somewhere in between.
"The drop in homeownership is largely due to a delay in homebuying by the millennials, who have the lowest ownership rate of their age group in history. Millennials are not only burdened by student loan debt, but they have also delayed life choices like marriage and parenthood, which are the primary drivers of homeownership. "
As I said it actually costs less money to own where I live. With FHA loans very little capital is required up front. You just don't get to live within the city proper and instead have about a 15 - 20 minute commute. I've spoken to dozens of young professionals (most of whom make much more than I) about this, they'd like to own in center city but that isn't happening so they rent.
I'm a highschool dropout who has no familial support. If I can do it so can someone with a college degree and better access to opportunities as long as they are willing to make the same sacrifices.
"The drop in homeownership is largely due to a delay in homebuying by the millennials, who have the lowest ownership rate of their age group in history. Millennials are not only burdened by student loan debt, but they have also delayed life choices like marriage and parenthood, which are the primary drivers of homeownership. "
http://www.cnbc.com/2016/07/28/millennials-cause-homeownersh...
Can Millennials Afford The American Dream?
http://www.forbes.com/sites/kerrizane/2016/01/24/will-millen...