The HENRY acronym for young, luxury homebuyers is back for Gen Z. Real estate firm Engel & Völkers, based in Utah, just put out a report on young HENRYs, which stands for “high earners, not rich yet.” The group is Gen Z and young Millennials who make at least $100K a year, and reportedly value home ownership not only as an investment but as a symbol of their lifestyle. (Though how many young people really fall in this category, they didn’t say.) Young people are often spoken about as being priced out of buying a house at the same age their parents did—if at all—but that seems to make it more of a luxury symbol to some buyers. According to the firm, 76% of HENRYs already own a home, with the vast majority buying them before 30-years-old, and nearly all of those currently renting planning to own before 40-years-old. (NY Post)
🕰️ YPulse wrote in 2015: First there were the Yuppies and Dinks, and now there are the HENRYs
