Gen Z Optimistic, Millennials Pessimistic About Housing Futures

A new survey by PropertyShark assesses how three generations view homeownership, household types, and the biggest obstacles that may keep them from buying a home.

Gen X, their children Gen Z, and Millennials were the three groups studied, and one of the key takeaways about the youngest of these generations is that it is moving toward buying fast: 83 percent of Gen Z respondents plan on purchasing a home by 2023. PropertyShark's study concludes that the movement of Gen Z into the buying market will make competition stiff for Millennial buyers, who had the dimmest outlook on homeownership potential in the survey, as student loan debt and saving up a down payment remain stiff obstacles.

Like other economic sectors, the real estate market changes with the emergence of each new generation. Born after 1995, Generation Z may be similar to their Millennial siblings in terms of preferences for large urban centers, communal amenities, social media and smart appliances, but when it comes to housing, major discrepancies appear.

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