If buying your own home seems out of reach, don't worry. Experts agree there are other ways to build wealth for the future besides investing in real estate. Maybe even better ways.
For many young people, home ownership is a distant goal. Although 80 percent of millennials would like to purchase real estate, according to recent data by Apartment List, 68 percent said they have saved less than $1,000 for a down payment.
Neglecting to save for a down payment, student loan burdens, and poor credit scores are all reasons young people might face difficulty buying homes, says personal finance expert Jean Chatzky. And, although there are often advantages to investing in property, she says property ownership is not always the best fit.
"Buying a home and paying off a mortgage gives you another kind of saved money that you can tap down the road," she says, "but there are times in life where it does not make sense at all."