For many American millennials, buying a new home in a city like Los Angeles or Washington DC can seem like a pipe dream.
According to a recent survey by Apartment List, 80% of millennials — defined as those born between 1980 and 1995 — say they want to buy a home, but most have less than $1,000 saved a for a down payment.
Meanwhile, buying a house in America's largest cities is more expensive now than ever. A severe housing shortage in LA, for example, has led over 400,000 households to spend more than half their income on housing.
Image: A rendering of a Fundrise development. Fundrise