Old Style: Get married at 23. Have kids. Save money. Buy a House.
New Style: Live at home until you are 30. Think about getting married. Get married. Have maybe one kid. Think about buying a house. Think about it some more. Buy a condo.
Why should we be surprised to see home ownership decline?
You left one out.
Really Old Style: Get married at 18, have kids right away, buy a small 3 bedroom-1 bath house. Kids are through college, have jobs and live next door when you are early 40’s. Then you amass your retirement wealth. No need to downsize your by now paid for home, just update it and you’re good to go.