America's attitude towards home-ownership is changing. Only 48 percent of millennials (age 21-36) believe that buying a home is a good investment, according to the latest ValueInsured Modern Homebuyer Survey. That's a record low, according to the report, and a sharp contrast to the previous high of 77 percent just two years ago.

Most of the respondents said they believe home prices are too high. The vast majority, 85 percent, said they expect a down payment to cost more than half of the total value of their personal assets.

In July, the median cost of homes in the U.S. was $269,600, up 4 percent from a year ago. New home sales, meanwhile, fell to a nine-month low. Because of high prices and limited supply, many prospective homeowners are struggling to find homes they like for prices they're willing to, or able to, pay.

In this survey, nearly a third of respondents said they'd need to relocate to another city to be able to afford a place. The same number didn't think they can continue to eat healthy while saving for a down payment, while a quarter said they would have to delay having children if they were to buy.

"Conventional wisdom assumed millennials were buying homes later because they chose to get married and have children later," said Joe Melendez, CEO and founder of ValueInsured. "New research now suggests homeownership may be the cause, not the effect, of delayed family formation."