Buying a home has long been central to the American dream for younger generations, connected to goals such as having a stable residence, raising a family, and building long-term wealth.
But for Gen Z—those born between 1997 and 2012—homeownership is increasingly out of reach, with affordability a major hurdle, according to a recent Harris Poll for Coldwell Banker Real Estate.
The survey, conducted online in the United States from Sept. 29 to Oct. 1 among 3,068 adults ages 18 and older, including 885 aspiring homeowners, shows that home affordability is delaying homeownership for Gen Z, with more than half (53 percent) of first-time prospective buyers not expecting to own a home until age 40 or later….