Gen Z is challenging Baby Boomers as the most influential generation in reshaping the modern housing market. Baby Boomers currently hold a significant dominance over the housing market in the U.S., owning more than double the value in property that Millennials do. But according to projections, the population of people 80-and-above will double by 2040, leading some economists to predict a “silver tsunami” of homes for sale—which Gen Z will be in prime age to make their first buy of. With many Baby Boomers downsizing later in life, their excess inventory may consist of starter homes, which are ideal for younger households and currently limited in the market. YPulse’s Finance / Spending Monitor report shows that saving to buy a house is Gen Z and Millennials’ third top financial priority at this point in their lives. (Business Insider)
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