From Time Magazine:

The housing market is at its least affordable since 1984, with millennials struggling to compete against wealthy baby boomers who have the cash and equity to dominate. A growing trend of co-ownership has emerged as a solution to address affordability challenges for first-time home buyers, particularly millennials. A study by JW Surety Bonds found that nearly 15% of Americans have co-purchased a home with someone other than their romantic partner, showing a growing interest in co-ownership. However, while co-ownership offers cost savings, there are many pitfalls to consider, such as interpersonal conflict, legal, financial complications, and the potential for financial loss. Consulting attorneys, tax professionals, and establishing a clear exit strategy is recommended before considering co-ownership.



Read more: Millennials are co-buying homes because of the disastrous state of the housing market