More Millennials Becoming Homebuyers

Members of the millennial generation have been criticized for poor spending and saving habits in the face of large student debt burdens. Others have chided them for relying on the "Bank of Mom and Dad." But a new report from Fannie Mae suggests that more millennials are becoming homeowners. Fannie Mae -- a government-sponsored company that purchases and guarantees mortgages -- says in the report that the number of young homeowners has been decreasing for decades, except during the housing boom from 2000 to 2005. The Great Recession and its aftermath accelerated the decline in homeownership among younger people.