Future Homeowners Share American Dream

Two recently released reports indicate that both young adults (Millennials) and teenagers (Generation Z) still see homeownership as an important piece of their future success.

A report by The Demand InstituteMillennials and Their Homes: Still Seeking the American Dream, revealed that the Millennial Generation is optimistic about their financial future and still believe in homeownership. The findings were based on a survey of millennial households (ages 18 to 29).

The report predicted that:

  • 8.3 million new Millennial (Gen Y) households will form in the next five years
  • $1.6 trillion will be spent on home purchases by Millennials and $600 billion on rent over the next five years

Millennials optimistic about their finances and homeownership

Of those surveyed:

  • 74% expect to move within the next five years
  • 79% expect their financial situation to improve
  • 75% believe homeownership is an important long-term goal
  • 73% believe homeownership is an excellent investment
  • 24% already own their home and
  • An additional 60% plan to buy a home in the future
  • 44% do think it would be difficult to qualify for a mortgage

What about the next generation (today’s teenagers)?

A recent survey by Better Homes and Gardens® revealed that Generation Z (teens ages 13-17) is very traditional in their views toward homeownership and is willing to sacrifice to attain the American Dream.

Findings from the survey show:

  • 82% of Gen Z teens indicate that homeownership is the most important factor in achieving the American Dream.
  • 89% said owning a home is part of their interpretation of the American Dream
  • 97% believe they will own a home
  • 77% percent chose owning a home over owning a business

BOTTOM LINE

It seems that the belief that homeownership as a huge part of the American Dream still beats in the hearts of the young people of this country.


c6cdfbe8 221c 4229 9786 f95c1a2938e5 d55a2093 cd7c 49ac 91df 9ea78358c002 8bf9de0f 7861 4f45 9b2d fcfcdda79a0f c32d5a38 ced7 498c 9b6b 3ca3570ed109 c42ff352 9400 415a 853b 0cfcf8e21541 8f1a5f26 6249 4758 9772 27c1ff3a8dc8 55076065 cfa1 4242 9d7f 3c9174427fe4 821e953e ed0f 4163 bf3f c07fb4b846af a094ee5a 195e 4f3b 8bbe dfda04df5135 f8f67a5e ffe0 4536 9f48 6a51d9345515 52c6d6a7 cec7 4373 ac65 1ed21e06bd85 247c9264 dcaa 4b37 8f94 1b444609c132 563f0c05 0065 4982 b898 6b98d335c0b7 80413564 c9a1 4edb ba77 e0a1a0602b81 dd262175 19f7 4614 88ef 4a4cc1fca991 f4c5959e 7d18 40af 909b 9300fe53ec79 b067bdd6 ab2c 4055 8c7d 6f037317b33b d21d0c2a 4f2f 405d b19c 044becbc33f0 252dbb01 644b 480c aa8d 37dcbdba9ea8 e35724da 629a 45dd b49a d0d06d8c91c3 bce1e45e 29ed 4727 b719 08a027132782 91768987 c8ad 4b75 b4f1 fe219210b2a6 9cfe7006 146f 49e4 8fbd 68475ca625ab