Millennials and Gen Zers do want to buy homes—they just can’t afford it, even as adults – By Tom Huddleston Jr. (CNBC) / June 12, 2022
You’ve probably heard some variation of this question time and time again over the past decade: “Why aren’t young people buying houses anymore?” The answer, according to a recent survey, is simple: money.
Most members of the Gen Z and millennial generations – U.S. adults between the ages of 18-25 and 26-41, respectively – do want to own a home someday, or even right now. Their biggest roadblock is affordability, respondents said in a March Bankrate survey conducted by research firm YouGov.
The findings: Nearly three-quarters (74%) of American adults still view homeownership as a top hallmark of achieving the so-called American Dream, beating out the ability to retire (66%), a successful career (60%) and having children (40%). Only 35% of respondents named obtaining a college degree as a key sign of economic success.
