Despite what many of us have heard about the unaffordability of homes for younger generations, CNN says that “many in Generation Z are forging ahead with home ownership.”
Intercontinental Exchange, a financial services company, reports that Gen Z accounts for 25% of loans issued to first-time home buyers. However, CNN adds, “There’s a growing divide within Gen Z between those with stable jobs or financial support who can afford to buy a home in today’s expensive market, and those who are priced out.”
The network talked to Susan Wachter, a professor of real estate at the Wharton School of the University of Pennsylvania, who, last year, explored why so many young adults are now living with their parents and found that affordable housing issues disproportionately impact minority groups. Wachter explains, “There are difficulties and challenges to buying a home. Some of which are more burdensome than on previous generations.”
Paths to Home Ownership
CNN’s reporting revealed Gen Zers took different paths to homeownership. “Some received financial help from family, while others did it all on their own. Some carried student loan debt from four-year colleges, while others skipped college altogether.”
The young homebuyers had a common thread—they were determined to buy a home and started saving early. This discipline and long-term planning, says CNN, was essential “to build the wealth necessary to break into today’s high-cost housing market.”
Some of the Zers CNN talked to moved thousands of miles from their homes to areas with more affordable housing, while others are leaving city centers, heading deeper into the suburbs. Those moves are fueled by hybrid work.
The economic environment may be easing for home buyers. A recent analysis from Redfin reveals there are now far more home sellers than buyers, which may give home buyers a negotiating advantage.
There are mixed reports this month, however. Redfin reports in July, “Pending home sales fell 3.5% year over year during the four weeks ending July 6, but the weekly average mortgage rate dropped to 6.67%, the lowest level since early April. And Google searches for “homes for sale” are at the highest level in a year.”
James Gulden, a Boston-based Redfin Premier Agent, says home sales aren’t “location or price-tier specific. Prices are still as high as they have ever been, but with homes sitting longer, the market is slowly turning in buyers’ favor.” As of July 6, the median sales price for a home in the U.S. was $399,633.
Economic uncertainty is also impacting consumers. A separate Redin survey showed that almost 25% of Americans were “scrapping plans to make a major purchase due to tariffs.”
New home purchases always spur additional consumer spending, both on products and services.
#StandwithSCORE
Nothing here has changed since I first posted about being “mad as hell” because funding for SCORE and the Women’s Business Centers was eliminated in the president’s budget for fiscal year 2026, and has not yet been reinstated by Congress.
SCORE needs that money so it can continue to support small business owners, whether they’re starting or scaling their companies. To date, SCORE has helped over 17 million business owners through free mentoring and low or no-cost education.
Join me on July 23
Without federal support, SCORE has had to start charging for its excellent 60–90-minute webinars. These informative presentations cost only $25, which is a small price to pay for the knowledge you’ll gain and the time you’ll save.
Believe me, I’ve presented numerous webinars for SCORE, packed with information that often takes me months to research. In fact, I hope you’ll join me on July 23 at 1 pm ET and 10 am PT for a SCORE webinar on a topic I know so many of you are interested in—Loans, Grants, and Other Funding Options for Small Businesses. It’s 90 minutes long—and you’ll get access to the presentation, which includes an extensive directory of grants (money you don’t have to pay back) for small business owners and links to small business lenders.
(If you joined on July 15, I apologize for the technical difficulties.)
Please sign up here; I promise it will be worth it.
Support SCORE
After more than 60 years of supporting small businesses, SCORE needs your support. To date, over 50,000 letters have been sent to Congress, asking them to fund SCORE. Please join those supporters—here’s how:
- Fill out this form (it takes less than 2 minutes), which will be sent to your congressional representative’s offices.
- Contact your congressional representative and senators via phone or social media. Tell them to save the people who save small businesses. Include @scorementors in your post. And the hashtag #StandwithSCORE.
- If possible, donate to SCORE.
- Tell everyone you know to #StandwithSCORE.