As needing extra money to buy a house with renting you pay the rent and taxes,  insurance, maintenance fees, HOA fees, etc. are paid with your rent.  Also it is now harder for a young person to qualify for a mortgage.  Some milleniums grew up with the spector of housing crash, with many seeing themselves or people they know lose their homes.  And millenials have a greater burden for student loan debt than their parents or grandparents.  This according to Dr. Jim Gaines, Realestate Center chief economist.