The housing crisis is hitting young people hard, with skyrocketing costs leaving many unable to start families or live independently. Rising home prices have far outpaced wage growth, making homeownership an unattainable dream for countless young adults. As a result, a staggering number of Gen Z and millennials are still living with their parents, unable to break free from the financial constraints holding them back.
A recent survey revealed that 31% of Gen Z adults are living at home due to unaffordable housing, while more than half of Gen Z and millennials remain financially dependent on their parents. This growing dependence is not just limited to housing—it also extends to other essential expenses like child care, forcing many to delay having children. The affordability crisis is not only reshaping the future of homeownership but also the very foundations of family life.
I assumed this is US. So i grabbed median pop. age in US to compare.
To compare:
Median Home Buyer – Median Pop Age
1980: 31 – 30
1990: 34 – 33
2000: ~36 – 35
2010: ~40 – 37
2020: 47 – 39oopsie, last 15 years have seen awful decouplement of pop. age and house buyer. pic.twitter.com/nFKKbmye0z
— Cissonius (@Yuugure_Made) October 7, 2024
Sources:
ipropertymanagement.com/research/homeownership-rate-by-age
www.habitat.org/costofhome/housing-affordability-and-families