The American dream of homeownership is not dead for Generation Z and Millennials, but they believe their path to get there will be challenging and may require some luck, reported Zillow, Seattle.
Tag: Homeownership
Higher Rates Make Renting More Affordable that Homeownership
ATTOM, Irvine, Calif., said higher mortgage interest rates tipped the needle toward renting over homeownership.
Millennials, Gen Z Continue to Lag Behind in Homeownership
Millennials and Gen Z—the most underrepresented cohorts in homeownership—continue to lag behind after nearly two years into the coronavirus pandemic, according to a survey by PropertyShark, New York.
Freddie Mac: Single Women Have Low Confidence in Homeownership Prospects
Freddie Mac, McLean, Va., reported nearly 60 percent of single female head-of-household renters feel homeownership is out of reach indefinitely.
RIHA Study: Widening Inequality After Great Recession Attributed to Decline in Homeownership, Home Values
Distribution of wealth among U.S. households became increasingly unequal from 2007 through 2016 as a decline in homeownership and home values impacted the wealth of middle-class families, according to a new research report, The Distribution of Wealth Since the Great Recession, released last week by the Mortgage Bankers Association’s Research Institute for Housing America.
Surveys: Half of Homeowners Plan to Move this Decade—And They’ll Argue About It
A major share of homeowners has a new home purchase in mind in the coming years. Another group plan to downsize by renting, according a survey by LendingTree, New York.
Buying More Affordable than Renting in 53% of Housing Markets
ATTOM Data Solutions, Irvine, Calif., said its 2020 Rental Affordability Report showed owning a median-priced, three-bedroom home is more affordable than renting a three-bedroom property in 455, or 53 percent, of the 855 U.S. counties analyzed.
Survey: More Gen Zers Than Millennials Will Own Homes
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.
Homeowners Today Staying in Homes Five Years Longer Than in 2010
Redfin, Seattle, said the typical American homeowner has spent 13 years in their home, up from eight years in 2010. Median home tenure increased in all 55 metros Redfin analyzed, leading to decreased inventory available for first-time home buyers in many places.
Zillow: Latinx Homeownership Rate ‘Decades Away’ From Catching Up With Whites
The nation’s Latinx population is buying homes are a higher rate than the overall U.S. population, beginning to close a gap between the Hispanic and white homeownership rate that has tripled since the start of last century. But despite these recent gains, the homeownership gap between Latinx and whites will take “decades” to close at the current pace, said Zillow Inc., Seattle.