NEW GEN Z 101: Unlock & Outlast Microtrends

Young people agree that it’s a (really) bad time to buy a home.

Feb 09 2022

Young people agree that it’s a (really) bad time to buy a home. YPulse’s life milestones research shows saving for a home is one of Millennials’ top five goals they’re working towards. According to a recent Fannie Mae survey, however, more than 80% of 18-34-year-olds in the U.S. say now is a bad time to buy a house, and only 25% say it’s a good time to buy a house. Rising housing costs and a low supply of available houses have made attaining this life milestone feel out of reach for young people—especially those in their thirties, which tends to be the median age of first-time home buyers in the U.S. Redfin also found that the median home-sale price skyrocketed to $365,000 in January—a 16% YoY increase from the year prior, and a 28% increase from January 2019—and the U.S.’ supply of starter homes (properties 1,400 square-feet or smaller) is at a 50-year low. (Business InsiderMorning Brew)