Super interesting read!
I am a millennial who was lucky enough to buy a house in 2016. We got outbid on a couple of houses and bought ours when a previous offer fell through.
Home ownership isn't for everyone, but it has worked out pretty well for us. The value of our home has increased by over $175,000 since we bought our home. Not a bad security blanket if shit hits the fan.
I do think there are a couple of reasons why millennials have a hard time buying homes.
1. We want to live in areas we cannot afford and refuse to compromise on this.
2. The perception of finality with homeownership. You detail this in your article, millennials aren't sure if they want to settle down. But the reality is that homes can be sold at any time, and there is a good chance you will make money on the transaction. My neighbor lived in his house for 6 years, decided he wanted to move and was out in a month.
My advice? If you can afford to, do it. Buying your first home is the hardest, however, once you have equity you have tremendous flexibility in moving later on.