Why aren’t millennials buying houses?

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via @ByRosenberg:

% of income spent on rent (vs historical average)
LA 47% (36%)
Miami 42% (29%)
San Francisco 39% (31%)
NY 38% (26%)
Boston 33% (26%)
Denver 32% (24%)
Seattle 31% (24%)
Portland 30% (24%)
US avg 28.4% (25.8%)
www.zillow.com/research/q2-2018-affordability-21286/

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