More Optimistic Than Millennials, Generation Z Is Here to Revolutionize the Housing Market
To better understand the difference in attitude between Generation Z, Millennials and Generation X towards homeownership, intergenerational living and saving for a down payment, PropertyShark conducted a generational survey on their preferences.
- Generation Z has its eye on homeownership, with 83% planning on buying a home within the next 5 years
- College debt is the #1 obstacle towards homeownership for Millennials and Generation Z
- Generation X chooses intergenerational living to care for relatives more often than any other generation
- Generation Z is willing to compromise on almost anything to keep costs down – but dreams of lots of space and amenities
- Generation Z to pose serious competition to Millennials on the real estate market
- Millennials are more realistic about their means, and the most pessimistic about the prospect of homeownership
College debt remains the #1 obstacle for Generation Z and Millennials
Generation Z’s aspirational lifestyle spurs amenities arms race
Living at home is all about practicality for Generation Z
- Gen X as those born before 1980, Millennials as those born between 1981 and 1994, and Gen Z as those born between 1995 and 2010. All survey respondents were over the age of 18. As such Gen Z respondents only include those born between 1995 and 1999.