Take a look at this chart from the Census.gov site:
Look at that purple line at the bottom plummet at slightly faster rate than some of the other color lines!!! Kids these days. Sorry for the sarcasm, but I think the graphic should illustrate that the homeownership trend for young people isn't really much different than the population in general. People in the 45-54 and 55-64 age groups dropped at just about the same pace as people under 35.