A recent survey from Redfin says nearly one of every five (18%) millennials and 12% of Gen Zers believe they will never own a home. To get their data, Redfin surveyed just over 5k U.S. residents who either moved in the last year, plan to move in the next year, or rent their home.
Some key findings:
- Roughly one in 10 Gen Z respondents believe they’ll never own a home.
- Affordability is the number-one barrier to homeownership for young Americans.
- About one-third of Gen Zers and millennials cited high mortgage rates.