Homeownership is on the rise again in the United States, and millennials make up the largest segment of buying. The climbing rate is a boost to both the real estate and retail sectors because new homeowners buy plenty of products, from furniture to lawnmowers, to fill their abodes.

While the uptick in homeownership is nowhere near pre-recession levels, it marks a significant shift from a decade ago, when an unstable job market kept most consumers from even contemplating the purchase of a home. But what has changed? The Knowledge at Wharton show, which airs on Wharton Business Radio on SiriusXM channel 111 , invited Benjamin Keys, Wharton professor of real estate and fellow at the National Bureau of Economic Research; Richard K.…