GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’re free to read more about oureditorial guidelinesand our products and servicesreview methodology.
But 13% who said they want to buy a home doubt theyll ever be able to afford it.
An additional 8% said they didnt expect to buy a home for 10 or more years.
How Did Zoomers Get Here?
Theyre facing an uphill battle with fewer options, higher costs and tougher financial hurdles to clear.
She said the percentages reflect the challenges Zoomers face.
Well see this year if those younger buyers are able to become a bigger percentage of the market.
The Federal Reserves first interest rate cut since 2020 a plump half-point earlier this month should help.
Weve seen a very competitive market for Gen Z, Snowden added.
Theyre going against repeat homebuyers who have that equity built up.
Some of them can pay all cash, which fewer in Gen Z can do.
Amid all the gloomy news, there are some positive signs.
Snowden also noted that many Zoomers are finding a way.
Theyre looking to alternate downpayment sources, receivingmore gifts and loansfrom family and friends, Snowden said.
Theyre most likely to use stocks and bonds, 401(k)s and pensions.
Theyre making sacrifices, cutting back on clothes and delaying vacation plans.
More From GOBankingRates
Share This Article:
