According to new data, Gen Z is more apt to save than Millennials and views homeownership more positively. A recent survey from Redfin shows that only 12% of Gen Z respondents (18-26-years-old) believed homeownership wouldn’t be a possibility for them in their lifetime, compared to 18% of Millennials (27-42-years-old). The main reason for this discrepancy was due to prevention from saving for down payments, with about half of Millennials, but only 33% of Gen Z, saying so. Redfin’s Chief Economist says that “[Young consumers are] renting their home because even though rent payments have increased, too, it’s still more affordable than buying in much of the country.” YPulse research shows that saving money and buying a house / apartment were among the top six financial goals for young consumers last year. (Business Insider)
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