Gen Z May Value Ownership More Than Millennials Do

Generation Z, which comprises the youngest potential consumers in the housing market, is bullish on homeownership. Freddie Mac researchers conducted a survey of consumers ages 14 to 23 and found they tend to have more positive perceptions of what it means to be a homeowner than millennials did at that same age. Eighty-six percent of Gen Zers say they want to own a home someday.
They also hope to purchase sooner in their lives than millennials did. Gen Z survey respondents say they plan to own a home by the time they turn 30, which is three years younger than the current median age of first-time buyers. The homeownership desires of Gen Z center on having more privacy, control, and independence than renting offers, Freddie Mac’s research shows. They also feel like homeownership is a sign of success, something to be proud of, and provides stability as well as financial security, the survey shows.
Continue…https://magazine.realtor/daily-news/2019/11/22/gen-z-may-value-ownership-more-than-millennials-do