Millennials and Gen Z have become increasingly prevalent in the housing market. But to get there, they’re still turning to the “Bank of Mom and Dad.” And that’s having a ripple effect on their Boomer parents.
TransUnion, Chicago, said Generation Z consumers—those born in or after 1995—are actively seeking credit despite many of them growing up during severe economic recessions in their respective global markets.
Even as Millennials age into their prime home-buying years, they’re still not keeping up with past generations, said Zillow Inc., Seattle. Furthermore, the analysis said, Gen Z could end up overwhelming Millennials in homeownership competition.