The Housing Struggles of Post-9/11 Veterans
In 2016, the number of men and women serving in wars throughout the Middle East over the past 25 years surpassed the number of Vietnam veterans. But, as these troops return to the United States, they are facing more housing affordability issues than their civilian counterparts, not to mention those who served in previous wars and actions.
Data issued by Apartment List indicates the following troubling trends for 21st-century veterans:
Nearly 35% of post-9/11 veterans are cost-burdened. The cost-burdened percentage of veterans serving previous tours (Korean War to the Gulf War) is below 25%.
Twenty-first-century veterans are far less likely than previous veteran generations to own their own homes, despite access to zero-down mortgages with favorable rates through VA loan programs.
Post 9/11 veterans are 5% less likely than comparable non-veterans to be able to afford their housing costs.
The Apartment List analysts note several reasons for these discrepancies. For one thing, recent veterans are younger, and younger individuals are less likely to be homeowners. For another, many returned home during either the build-up to, or recovery from, the 2008 housing crisis.
Additionally, this group is also the most diverse in U.S. military history. “As more under-represented minorities serve in the military, veteran cohorts become more exposed to a variety of new challenges, such as the lasting effects of racial segregation,” the analysts note.
For comments, questions or concerns, please contact Amy Sorter
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