A Father, a Daughter, and the Housing Market

To millennials, homeownership isn’t the safe bet it once was

David Stevens, chief executive officer of the Mortgage Bankers Association, has spent his career making the case for homeownership—crunching loan data, selling houses, and lobbying Congress to shore up the market in the chaos of the financial collapse. Yet one person still isn’t buying his pitch: his daughter. Sara Stevens, 27, understands that interest rates are low, rents are high, and a home can build wealth. But she also witnessed up close the worst real estate slump since the Great Depression. “The world has changed,” she says.

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