New research shows that two in five Gen Z and Millennials are working a side hustle just to save for a house down payment. The odds of being a young consumer and being able to afford a house today aren’t very favorable—a recent study from Redfin shows that Gen Z (18-26-years-old) and Millennials (27-42-years-old) are feeling the financial strain of saving up for a house, taking on side hustles to build up funds for down payments. And a Bankrate survey shows that almost 40% of Gen Z and Millennial adults in the U.S. have a side hustle, with one third saving for “regular living expenses” and one fourth saving for “discretionary spending.” YPulse data shows one third of young people are earning money from various secondary streams of income. (Fortune)
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