Question of the Day: What percentage of Zoomers have goals related to homeownership?
How many young people are taking action on one of the biggest purchasing decisions they'll ever make?
- Do you think you will have goals related to homeownership soon after you graduate from high school? Explain why or why not.
- Other than actually buying a house, what kind of homeownership-related goals could a young person have?
- In order to save money to buy a house, what kind of financial sacrifices would a person have to make? On the flip side, what benefits would they receive?
Behind the numbers (Rocket Mortgage):
"The most popular financial goal for 2023 stayed the same as last year, with even more Gen Zers (39.5%) aiming to increase their income.
However, a new category took second place in 2023. Having focused on their financial health the previous year, more Gen Zers are starting to prepare to buy a house, with 27.3% having the goal of saving for a home in the new year. In fact, homeownership-related goals grew from 37.3% in 2022 to 45.1% in 2023. Higher mortgage rates, rent and real estate aren’t deterring this generation – almost half of Gen Zers have homeownership goals. Those include saving for a home, buying their first home or moving out of their parent’s house.
However, while many have homeownership-related goals, 38.4% of this generation feel they lack the information or confidence to achieve them. Drilling down a little more, a quarter of Gen Zers believe they don’t have enough information specifically on buying their first home."
NGPF's Buying a House mini unit will give you the tools to help your students start thinking about this intimidating financial milestone!