Why Millennials Are Waiting So Long to Buy Their First Homes

They may finally be moving out of their parents’ basements, but don’t expect those boomerang kids to be taking out a mortgage any time soon.
Today’s first-time homebuyer rents for an average of six years before buying his or her first home, according to a new analysis by Zillow. Time spent renting has been marching mostly upward since the 1970s, when first-time buyers rented for just 2.6 years before purchasing a home.
Today’s first-time buyers are also more likely to be single and older (with an average age of 32.5) than previous generations.
“Millennials are delaying all kinds of major life decisions, like getting married and having kids, so it makes sense that they would also delay buying a home,” Zillow Chief Economist Svenja Gudell said in a statement.
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Part of the reason for that delay could be that homes cost much more than they did decades ago. Today’s homebuyer makes roughly the same amount of money in inflation-adjusted terms as a buyer in the 1970s, but the homes that they’re purchasing are about 60 percent more expensive.
There are other roadblocks for first-timers. Limited inventory and strong competition make the home buying process difficult for property virgins and student debt can make it tougher to get a mortgage.
Those six years spent renting aren’t coming cheap, either. In 2013, almost half of all renters were spending more than 30 percent of their income on housing, with more than a quarter sending half their income to their landlord every month, according to the “State of the Nation’s Housing 2015” report issued in June by the Harvard Joint Center for Housing Studies. That makes it pretty tough to save for a down payment.
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Privacy-Focused DuckDuckGo Search Engine Says Traffic Has Soared Since Snowden Leaks

If you haven’t yet heard about DuckDuckGo, you probably will soon.
On its face, the search engine looks much the same as any other. A little more sparse, maybe, but nothing much separating it from, say, Google. There’s a logo and a box for your search.
Where it differs from its peers, though, is what happens when you hit enter.
Though silly in name, DuckDuckGo has a serious ethos: protection of user privacy at all costs. The engine, launched in 2009, shies away from the personalized filter bubbles so adored by search giants like Google and Bing, refusing to track searches or store user data. Users have the option to completely anonymize their search by routing it through the anonymizing TOR network, rendering it even more invisible to prying eyes. DuckDuckGo earns money through simple keyword-targeted advertising, steering clear of the tracking cookies used by more sophisticated ad campaigns.
Though the slavish dedication to privacy has its drawbacks — for example, results are less tailored to the user searching for them, and thus more likely to be irrelevant — the search engine has seen 3 billion searches a year and has a firm community of fans who are attracted to the site’s long-standing defense of user privacy.
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That ethos seems to be paying off. Gabe Weinberg, CEO of the Pennsylvania-based company, told CNBC last week that the search engine’s traffic has grown 600 percent since Edward Snowden’s 2013 revelations about the large-scale spying conducted by the government. DuckDuckGo’s search traffic was further assisted last year when Apple integrated it into the Safari mobile browser.
DuckDuckGo’s traffic is still tiny compared to the big players — the 3 billion searches a year that Weinberg claimed to have on CNBC is pretty much the same amount of searches that Google traffics in a single day. But DuckDuckGo expects steady growth as average users become increasingly educated about their privacy.
Millions of Samsung Galaxy Phones May Be Vulnerable to Hackers

If you’re one of the millions of users of a Samsung Galaxy phone, you might be a potential target for a malicious hacker.
A report released today by NowSecure, a security firm located in Chicago, found that a glitch in Swift, the keyboard software used by default on all Samsung Galaxy devices could allow a remote attacker to compromise your phone.
This particular bug makes the phone vulnerable to what is known as a “man in the middle” attack. The Swift software consistently sends requests to a server, checking for updates. To someone with the right knowhow, though, it’s possible to impersonate Swift’s server and send through software that can be used to gain control of the device.
The main problem with this vulnerability is that there’s no real solution. The Swift keyboard is so integrated into Samsung’s software that it cannot be removed or disabled — even if it is switched out with a different keyboard app. Steering clear of unsecured Wi-Fi networks will make you less likely to be targeted, but it won’t render you invulnerable.
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Swift runs with elevated permissions, giving it pretty much free rein around the phone. This means that a hacker that worms his way into it can also access the Galaxy’s microphone and camera, track the user’s location or listen to their calls. They can even install apps.
NowSecure claims to have made Samsung and Google’s Android team aware of this vulnerability in late 2014, and Samsung reportedly has made a patch available to network providers. It’s not clear, though, whether providers have pushed out the patch to users yet. Many networks have a record of being notoriously slow to push through updates and security patches, and NowSecure’s tests found a number of Galaxy phones on different carriers were still vulnerable as of Tuesday.
If you’re of a more technical bent, you may be interested in seeing the details of NowSecure’s report on their blog. If you’re of a less technical bent, you might want to check with your carrier and try to avoid insecure Wi-Fi networks.
Five States Account for 31% of Underwater Mortgages
Here’s another sign that the housing market keeps getting healthier: More than 250,000 formerly underwater homes regained equity in the first quarter of 2015, according to CoreLogic, meaning that the value of the homes rose above the value of the mortgages on them.
Borrower equity grew more by $694 billion in the quarter, and more than 90 percent of mortgaged American homes now have equity. Such a surge in homeowner wealth has historically led to increased consumer spending and investment.
“Many homeowners are emerging from the negative equity trap, which bodes well for a continued recovery in the housing market,” Anand Nallathambi, president and CEO of CoreLogic said in a statement. “With the economy improving and homeowners building equity, albeit slowly, the potential exists for an increase in housing stock available for sale, which would ease the current imbalance in supply and demand.”
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Still, 5.1 million mortgaged homes remain underwater, representing 10.2 percent of all mortgaged properties. Five states — Nevada, Florida, Illinois, Arizona and Rhode Island — account for nearly a third of all properties with negative equity. As of the end of the fourth quarter, 10.8 percent of homes — or about 5.4 million properties — were underwater.

The number of underwater homes has decreased year-over-year by 1.2 million and the aggregate value of negative equity has fallen 13 percent to $337.4 billion.
Texas was the state with the fewest underwater properties; 98 percent of homeowners there with a mortgage have equity in their homes.
Just under 20 percent of homes with a mortgage are considered “under-equitied,” meaning that they have less than 20 percent equity and would likely have trouble refinancing their property or obtaining new financing to sell their home and buy another.
A 5 percent increase in home values nationwide would bring another million homeowners into positive equity territory, CoreLogic economists predict.
VA Cited for Neglecting Follow-Up Treatment for Depressed Vets

The embattled Veterans Affairs Department is once again under scrutiny for potentially violating agency guidelines when treating patients—this time, failing to ensure that veterans with depression are receiving sufficient follow-up care after being prescribed anti-depressant medication.
That’s the conclusion of an investigation by the Government Accountability Office. The GAO reviewed patients being treated for depression at six separate VA medical centers and found that after the veterans received anti-depressants, their doctors did not conduct follow-up appointments within four to six weeks, as the VA requires
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In its review, the GAO said that among all patients whose records were reviewed—almost none of them received check ups with doctors in the required time after they were given anti-depressant medication.
"Given the debilitating effect that depression can have on veterans' quality of life, VA's monitoring of veterans with [depression] is critical to ensuring they receive care that is associated with positive health care outcomes," GAO director of health care Randall Williamson said in congressional testimony this week. He went on to criticize the VA for not following its own guidelines to assure veterans receive sufficient treatment.
“This work illustrates, once again, a continuing pattern of VHA's [Veterans Health Administration] noncompliance with its own policies and established procedures,” Randall Williamson, the GAO's director of health care said in congressional testimony last week.
Separately, the GAP flagged the VA’s Behavioral Health Autopsy Program which is used to collect data on veterans that have committed suicide in order to inform policy decisions, saying it is plagued with inaccuracies.
Auditors said that the system had incorrect dates of death—sometimes off by one day, sometimes off by a whole year. The GAO said this made it nearly impossible to assess what kind of treatment they were provided.
The 3 Big Reasons You’re Getting Nothing Done at Work

Cell phones often get blamed for the always-on work culture that keeps us tethered to our jobs around the clock.
Turns out they might be the reason we’re not getting our work done during office hours in the first place. More than half of employers say that cell phones and texting are the biggest productivity killers at work, making them the number one distraction, according to a new survey from CareerBuilder.com.
Other top productivity killers included the Internet, named by 44 percent of employers, gossip (37 percent), and social media (37 percent).
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“There are so many stimulants in today’s workplace, it’s easy to see how employees get sidetracked,” Rosemary Haefner, Career Builder’s Chief Human Resources Officer said in a statement “The good news is, taking breaks from work throughout the day can actually be good for productivity, enabling the mind to take a break from the job at hand and re-energize you.”
Nearly half of employers said that such distractions compromised the quality of work, and 30 percent said they caused lower morale since other workers had to pick up slack for their preoccupied peers. A quarter of employers said that distractions hurt the boss/employee relationship.
Nearly 3 in 4 employers have been proactive about battling productivity killers, with a third blocking certain Internet sites and 23 percent banning personal cell phone calls and usage on the job.
Haefner recommends that workers stay focused by scheduling breaks, surrounding themselves with productive people and taking walks to rejuvenate the brain.