Many Millennials continue to view the ownership of a single family home as the ultimate sign of wealth and achievement. But frankly, it is not. It is a luxury. We all grew up hearing that a home is an asset, and it is an asset, for the bank that lends on the loan. And in the case of millions of homeowners, that is actually a GSE that acts as a private bank but is indeed the federal government.

While homeownership certainly makes sense for some, and provides things other than those of an asset, the rush to purchase will leave many millennials regretting it, as so many are already carrying student loans the size of a mortgage.