Why millennials are #SpentOnRent, in their words

Why millennials are #SpentOnRent, in their words

We recently announced the launch of our #SpentOnRent campaign to gain insight from real people about what’s holding them back from homeownership. This campaign followed the release of The Millennial Homeownership Report, in which we partnered with the Urban Institute to investigate the reasons behind low millennial homeownership rates.

After downloading the report, thousands of people across the country participated by taking our homeownership probability quiz or sharing their story on Twitter.

From student loan debt to credit scores to down payment struggles, many of the responses were in line with findings from the report.

What’s holding you back from homeownership? Let us know using #SpentOnRent and #Sweepstakes, and you’ll be entered to win $5,000 to put toward your version of the American Dream. Official rules:

— Better Mortgage (@betterdotcom) July 11, 2018

Right now the things holding me back from home ownership are student loan debt and the cost of living. Working full-time is a blessing but it's not easy keeping your head above water. #SpentOnRent #Sweepstakes

— Hannay (@hannaeo_) July 16, 2018

Finding the right fit for my family. The homes we've been looking at in the right school district for my kids, great neighborhood, have skyrotted in price. A few years ago we could have afforded it, but the home values have gone up ALOT. #SpentOnRent #Sweepstakes

— Marilyn (@DIYMominIt) July 18, 2018

Trying to boost my credit rating. It's crazy how my credit score number can affect whether or not I'll be approved for a loan as a first time home buyer. #SpentOnRent #Sweepstakes

— Lola (@LolaWSmith) July 18, 2018

Top themes from #SpentOnRent tweets:

Why millennials are #SpentOnRent, in their words

Why millennials are #SpentOnRent, in their words

Real Talk: Unpacking homeownership

We also partnered with supporters who helped spread the word about the report and shared their own stories about homeownership. Here were a few of our favorites:

La Guardia Cross:

DON'T JUDGE ME! The struggle is TOO real for many millennials, so @bettermortgage and @urbaninstitute teamed up to find solutions. Share your renter/owner story with the hashtag #SPENTONRENT and get more info at #ad

A post shared by La Guardia Cross (@laguardiacross) on

Dr. Mike:

Sam White:

Millennials get blamed for a lot.
When it comes to owning a home, we’re fighting an uphill battle against an unfair system 🏠 #SpentOnRent
Dove into this w/ @betterdotcom & the Urban Institute cause millennials are keeping this country afloat but being drowned in the process.

— Sam Whiteout (@samwhiteout) July 12, 2018

Congrats to our sweepstakes winner!

@darkwater70 won $5,000 to put towards their version of the American Dream.

I want to buy my own home, but I don't know where to begin. Why I'm #SpentOnRent: #sweepstakes

— DK (@darkwater70) July 13, 2018

Want to get the full story?

Download the report here

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