Question of the Day: What percent of 14-17 year olds think it is likely that they will ever purchase/own a home?
Here's reasons given for wanting to own a home:
- Do you want to own a home at some point in the future? Why or why not?
- If so, is there a specific age that you would like to own a home?
- What are the biggest challenges you see in being able to buy a home?
- What would you be looking for in that first house that you buy? What factors matter most to you?
Behind the numbers (Gen Z consumer research):
The dream of homeownership is alive and well within Generation Z, despite some perceived barriers to reaching this goal. Further, ownership is preferred to renting. The overwhelming majority of these youth have strong positive views of homeownership and want to own a home someday. They see some barriers to homeownership—such as high home prices, saving for a down payment, and student debt—but they largely believe they will overcome these obstacles.
Let students see how much home they can afford with a popular NGPF Budgeting Activity, Building a Salary Based Budget.
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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