Millennials were once referred to as the “renter generation” because of their preference for apartment living in urban areas over purchasing a home in the suburbs like their Baby Boomer parents.

A recent NAHB survey shows that regulatory costs imposed by the government account for $93,870 (or 23.8%) of the current price of new homes.

The number of buyers who locked in mortgage rates for second homes spiked to 178% year over year in April, according to a report from Redfin.