Here\u2019s a sobering stat: Though 90% of the Generation Z population in the U.S. hopes to own a home someday, 62% think that will never happen.<\/p>\n
That data comes from a survey<\/a> conducted in June by the real estate platform Clever Offers, which polled 1,000 Gen Z adults between the ages of 18 and 28 on their views about buying and owning a home. The results paint a dire picture.<\/p>\n World War III is a more likely scenario in the next five years compared to personal homeownership, according to 21% of survey respondents. Another 18% said becoming homeless is more likely than buying a home. Around 17% of those surveyed think they have better odds of winning the lottery than owning a home, while 11% believe they have a better chance of being hit by lightning.<\/p>\n To put those odds in perspective, there\u2019s a 1 in 292 million chance of winning the Powerball jackpot. The odds of being struck by lightning in a given year are 1 in 1.22 million, according to the National Weather Service.<\/p>\n Among many Gen Z members, pretty much any home would do. The Clever survey found that 58% of respondents would still buy a home if it had no central heating or air conditioning; 47% would purchase a home containing asbestos; 46% wouldn\u2019t mind too much if it had a leaky roof or foundation issues; and about 40% would still move forward with a home purchase if an inspection uncovered pests or termites.<\/p>\n Nor do high mortgage rates seem to be much of a deterrent for Gen Z. While 28% of respondents said high rates are a barrier to buying a home, 56% said they would accept an interest rate over 7% if it meant securing homeownership, and another 24% said they would still buy a home with a rate exceeding 10%.<\/p>\n Other enlightening survey stats include:<\/p>\n 97% of Gen Z say they face barriers to homeownership<\/p>\n 46% say they struggle to pay the rent every month<\/p>\n 36% say they would consider marrying someone just to afford a home<\/p>\n 30% have thought about squatting or living in their car out of desperation<\/p>\n Among respondents who think they\u2019ll never own a home, 82% said it\u2019s because they can\u2019t afford it \u2014 a sharp increase from the 57% who responded that way in 2024. About half of Gen Zers said high home prices<\/a> are restricting their ability to purchase, while 75% said the rising cost of living has made saving for a downpayment impossible.<\/p>\n A growing debt bubble<\/p>\n While 35% of respondents to the Clever Offers poll said they would consider skipping other debt payments to afford a home, that isn\u2019t an option for those who can\u2019t scrape together enough cash for a downpayment. The survey also found that 34% of Gen Z members have more debt than savings.<\/p>\n Those debt concerns aren\u2019t restricted to Gen Z, according to a separate survey released this week by the online personal finance company Achieve, which found that 58% of respondents rate their current financial situation as either \u201cpoor\u201d or \u201cfair.\u201d<\/p>\n