Generation Z leads in home ownership, beating out millennials & Gen X (FORBES)

says home owners..

nobdoy owns their home...the bank owns you're home. Unless you pay in full up front and not in a mortgage. Even if you do pay your home off in 20-30 years. its still not yours. If you fail to pay property taxes, the state will seize the property after a period of time. There are ways around that with owning your own land and the house outright that sits on it

most people are slaves to a bank/mortgage. You lapse 4-5 months on that house payment, your ass is on the street

Having a 40 yr mortgage does not equal "home ownership".

1000% agree. Its all such a joke… these kids have nothing today! Their all living with parents like me LOL. 90% for the most part!

I know of several people who have bought houses outright for their children. Though I suspect that providing a down payment is a far more common form of help.

I bet they don't care about the loan, if it defaults then they figure someone will bail them out. If they lose it then they will find someplace else to go.

It’s a no brainer. Even the greatest generation were mostly renters.

That's funny. You mean they bought a home & the bank owns it! With interest rates at rock bottom, they should have bought a home.

But this "owning it" is all a myth, their bank owns it & most of them live hand to mouth, week to week. The foreclosures are going to be beyond epic!

Gen-Z is the children of Gen-x. We taught them right. Now they can prosper..

I have 3 gen-Z kids.
One just bought a house with her fiance. (She is 20)

My Son keeps is own apartment in another state working full time as a Welder for a Fortune 500 Company. Banking cash for a house. (18 years)

The last boy 15, works a job in addition to school. He is saving for his first car.


All the kids are hard working and able to save money. So I believe it. Oh, no college/school loans.

X and Y both got fucked hard.

It’s all because of grossly overvalued properties for 20+ years, waiting for it to become affordable but it just keeps going up, especially on the coasts.

Property in nyc, la, sf, boston hasn’t been affordable for X or Y since bill clinton scumbag’s housing bubble. 1998 was the last year anything could be bought for 3 times gross annual income in those areas.

It’s too bad clinton didn’t die of sepsis two years ago and his bitch wife didn’t get mauled by a bear when she ran into the woods after losing the election.

adrenochrome works miracles dosen't it

We need Wall Street to crash hard and not recover for 20 years and house prices to crash hard. They don’t square up with the incomes of real jobs. They are still way too fucking expensive.

Looks like all those student loans are paying off.

Anyone Gen X or after has no hope of retiring and most of them know it.
But yep, this is parents realizing their Z'er is screwed if left on their own , helping them out.

Very common with the gen z’s actually. My sister and her fiancé just bought a 460k house in seattleish area. All down payment and future contractor work is paid for by fiancés mommy and daddy.

Just for laughs, what’s the average salary for Seattle? Only way that house is affordable is if people earn $150K a year.

Drive past your local highschool. All the students drive nicer cars than most the people i know who work everyday.

You will own nothing and be happy?… *shrug*

I guess zoomers are happy owning a house

Personally I own a home as a millennial and I’d rather sell it and just rent a home instead. Home ownership is a curse

How? Do you know how much people pay for rent? Some of them have to live with assholes they don’t even like to afford rent.

I call bullshit.

The primary driving force that causes people to look at purchasing a home is getting married and having kids.

Which is something the younger generations aren't doing. Every young person I know is part of the hookup culture and if they aren't they are just shacking up with a girl friend with no intention on having children.

Of course, there are a few out there looking to purchase investment properties but in today's climate how many people have enough spare cash to purchase a 400,000 dollar home?

They boys haven't had time to get divorce raped yet.

So now you are telling me that Gen Z can do repairs and maintain a house?


Really?

My Gen-zer has a $160,000 condo. His old millennial babysitter lives with her mom.

MoS

No fucking way.

Gen X and Boomers are.

From article:

Roughly 30% of 25-year-olds in 2022—the oldest of the Gen Z (born between 1997 to 2013)—owned their home in 2022, a slightly higher percentage than the 28% of Millennials (born between 1981 to 1996) who owned homes at that age and the 27% of Gen Xers (born between 1965 and 1980)—but lower than the rate for Baby Boomers (born between 1946 and 1964), 32% of whom owned homes at age 25.


1946-1964 equal 18 years
1965-1980 equal 15 years
1981-1996 equal 15 years
1997-2010 equal 13 years

I am not going to argue here the length of generations because i have found people don't want to hear that. But, it should be the same number at least.

Someone born in 2010 was 12 in 2022. Can a 12 year old own a house?

Plus it's home ownership by age 25.

This is a bullshit article.

If blackrock and vanguard count as people, then plenty. Oh, and Chinese investors too.

Gen X in rural areas where housing stayed affordable for longer. X in cities got screwed left, right and center.

Definitely agree with those who said Gen Z are making money more unique ways. They grew up on internet, I see middle schoolers competing with each other over who made most in advertising money from social media. The whole get a job and stay there until retirement mentality ruined millennials and gen x. Gen z’s job hopping and side hustles is the way to go. What’s best raise you can expect after 2 years?? 5%? If that? They realized they need to always keep looking for better opportunities, so leveraging their current job and switching companies usually nets them an average increase of 25-30% increase in pay.

They realized employers have no loyalty for them, so why should they??

Add in making money via affiliate marketing, social media, online businesses, etc and it’s not hard to see why this stat is likely 💯.

I’m not surprised. Millennials all took out crazy loans for education and used the income they made while attending school to travel. I worked with Gen Z kids during the pandemic including an 18 year old who was still in high school but it was online so she was also serving tables at a “casual fine dining” restaurant. Her mom was a waitress so when everyone was hiring because no one wanted to work she got a job waitressing at a nicer establishment than her mom. She was making 1k a week because we were short staffed. All her money went into a savings account. She had 30k saved up before her 19th birthday.

She didn’t go to college, she doesn’t travel. She just works, lives at home, and goes on dates. She wants to marry a plumber or an electrician and buy a home together

You’d never hear of a millennial in that situation at 20 years old.