- Despite the housing market that continues to pricing Many American young people, Gen Z members are deeply digging to find ways to achieve their dreams in ownership of homes. According to Bank of America Institute’s survey, more General Zires takes additional jobs or cooperates with siblings to buy homes.
American youth do not leave an unbearable housing market that prevents them from buying their homes.
According to the hadith Survey the Bank of America InstituteMore General Zires gets help from outside the bank of my mother and Abi, which has long been the basic pillar of young people’s financial affairs.
“Despite the financial obstacles, the dream of ownership of the home is still a strong incentive for Gen Z and Millennials, who are presenting sacrifices at the present time to determine the priorities of financial security in the long term that the house can provide,” said Bofa’s annual housing fees report.
It found that 30 % of Gen Z domestic owners paid for a first batch by taking an additional job, up from 28 % in 2024 and 24 % in 2023.
The survey also revealed a sharp increase in another financial resource: 22 % of the owners of Gen Z bought their home with siblings, increasing from 12 % in 2024 and only 4 % in 2023.
Which tracks similar data about joint ownership. According to 2024 Wipe by Jw BondsNearly 15 % of all Americans have participated in operating a house with someone other than their romantic partner.
But it seems that the Americans prefer to stay inside the family. Last year, the RedFin study found that more than a third of the millennium and General Zires are planning to buy a house It is expected that their parents or families will help the batch provided.
According to the latest BOFA report, 21 % of the potential buyers of Gen Z said they are planning to rely on family loans to obtain a payment payment, compared to 15 % of the respondents in general.
“Even with the challenges they face, young generations still understand the long -term value that a home owns, and many do what is necessary to get there,” said Matt Vernon, head of consumer lending at Bofa, said in the report, issued on May 28.
This is the average ownership of the home for Americans under the age of 35 to 36.3 % in the fourth quarter of 2024, which is the lowest level since early 2019, although it rose to 36 % in the first quarter of 2025, according Data From the American Statistical Office.
Meanwhile, the Bofa study found that among the respondents in general, the housing market – which has been largely frozen due to the high mortgage rates and home prices – is a mystery.
Stone per cent of current home owners and potential buyers said they could not know whether or not the time to buy a house, compared to 57 % last year and 48 % in 2023.
However, a greater share of potential buyers believes the market is now better than last year, and stops buying because they expect decrease in mortgage and home prices at a later time.
“They may wait for the right moment, but they are not silent,” Vernon said. “They build credit, provide low payments, and take care of the market so that they can buy when the time is right for them.”
In fact, key The turning point in the housing market It appears in mind as the momentum turns firmly in favor of buyers on sellers.
Home sale prices on 11 of the 50 largest American metro regions are already decreasing, according to data from RedvinBefore a wider decrease later this year.
RedFin sees the average American sale price It was launched in the third quarter on an annual basis, then decreased by 1 % on an annual basis by the fourth quarter.
This follows a Similar expectations from Zillow in April, When the house values are predicted, it will decrease by 1.9 % this year after expecting an increase of 0.6 %.
“A mixture of high lists available and high mortgage rates indicates a possible decrease in prices by the end of the year,”ZillowThe researchers wrote. “With the increase in supply, buyers acquire more options and time to make a decision, while sellers reduce prices at record levels to attract bids.”
This story was originally shown on Fortune.com
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