How hard is it for millennials to break into the homebuying market?
Especially in San Jose.
A new report shows that between 2005 and 2015, the rate of home ownership among millennials in the San Jose metro plunged faster than anywhere else in the country — a 34.8 percent decrease “in the heart of Silicon Valley,” as the report puts it.
The report by the Abodo apartment search website shows that when U.S. metros are ranked for having the most millennial homeowners, San Jose ranks 131st on the list. Only 20.2 percent of millennials in San Jose own homes. That’s even worse than in the San Francisco-Oakland metro, where 20.5 percent of millennials are homeowners.