Young Homeowners Are Much More Likely Than Young Renters to Say They’re Financially Better Off Than 4 Years Ago
Redfin's recent survey reveals a significant financial perception gap between young homeowners and renters. 68.7% of millennial/Gen Z homeowners report being better off financially compared to four years ago, versus 52.2% of their renting counterparts. This disparity is notably larger among younger generations than older ones, with Gen X showing only a slight difference (42.6% homeowners vs 38.8% renters). The advantage for young homeowners stems from the pandemic-era homebuying boom, which allowed many to build substantial equity during the 2021-2022 period of surging home values. Baby boomers emerged as the only generation where the majority reported being worse off, with approximately 40% of both homeowners and renters indicating financial decline.
Un recente sondaggio di Redfin rivela un significativo divario nella percezione finanziaria tra i giovani proprietari di casa e gli affittuari. Il 68,7% dei proprietari di casa millennial/Gen Z riporta di sentirsi meglio economicamente rispetto a quattro anni fa, rispetto a il 52,2% dei loro omologhi affittuari. Questa disparità è notevolmente più ampia tra le generazioni più giovani rispetto a quelle più anziane, con la Gen X che mostra solo una leggera differenza (42,6% proprietari di casa contro 38,8% affittuari). Il vantaggio per i giovani proprietari di casa deriva dal boom dell'acquisto di case durante la pandemia, che ha permesso a molti di accumulare un patrimonio considerevole nel periodo 2021-2022, caratterizzato da un aumento dei valori immobiliari. I baby boomer sono emersi come l'unica generazione in cui la maggior parte ha dichiarato di sentirsi peggio, con circa il 40% sia dei proprietari di casa che degli affittuari che indicano un declino finanziario.
Una reciente encuesta de Redfin revela una brecha significativa en la percepción financiera entre los jóvenes propietarios de vivienda y los inquilinos. El 68,7% de los propietarios de vivienda millennial/Gen Z informan que están mejor económicamente en comparación con hace cuatro años, frente a el 52,2% de sus homólogos inquilinos. Esta disparidad es notablemente mayor entre las generaciones más jóvenes que entre las más viejas, con la Gen X mostrando solo una ligera diferencia (42,6% propietarios frente a 38,8% inquilinos). La ventaja para los jóvenes propietarios de vivienda proviene del auge de compra de viviendas durante la pandemia, que permitió a muchos acumular un capital considerable durante el período 2021-2022 de aumento de los valores de las viviendas. Los baby boomers emergieron como la única generación en la que la mayoría informó que se encuentra en peor situación, con aproximadamente el 40% de tanto propietarios como inquilinos indicando un declive financiero.
레드핀의 최근 설문조사에 따르면 젊은 주택 소유자와 임대인 사이에 상당한 재정 인식 격차가 드러났습니다. 68.7%의 밀레니얼/Z세대 주택 소유자가 4년 전보다 재정적으로 나아졌다고 보고한 반면, 임대인에서는 52.2%에 불과했습니다. 이 차이는 젊은 세대에서 노년 세대보다 훨씬 더 크며, X세대는 주택 소유자가 42.6%, 임대인이 38.8%로 차이가 미미합니다. 젊은 주택 소유자에게 유리한 이유는 팬데믹 기간 동안 주택 구매 붐으로 인해 2021-2022년 상승하는 주택 가치 동안 상당한 자본을 형성할 수 있었기 때문입니다. 베이비붐 세대는 대부분이 재정적으로 악화되었다고 보고한 유일한 세대로, 주택 소유자와 임대인 모두 약 40%가 재정적 감소를 나타냈습니다.
Une récente enquête de Redfin révèle un fossé important dans la perception financière entre les jeunes propriétaires et les locataires. 68,7% des propriétaires de la génération millénaire/Gen Z déclarent être mieux lotis financièrement par rapport à il y a quatre ans, contre 52,2% de leurs homologues locataires. Cette disparité est particulièrement marquée chez les plus jeunes générations par rapport aux plus anciennes, avec la Gen X montrant seulement une légère différence (42,6% de propriétaires contre 38,8% de locataires). L'avantage des jeunes propriétaires découle du boom des achats de maisons durant la pandémie, ce qui a permis à beaucoup de constituer un capital substantiel durant la période 2021-2022 avec des valeurs immobilières en forte hausse. Les baby boomers se distinguent en tant que la seule génération où la majorité indique des difficultés financières, environ 40% des propriétaires et des locataires signalant un déclin financier.
Eine aktuelle Umfrage von Redfin zeigt eine erhebliche finanzielle Wahrnehmungslücke zwischen jungen Hauseigentümern und Mietern. 68,7% der Millennial- und Gen Z-Hauseigentümer berichten, dass es ihnen finanziell besser geht als vor vier Jahren, im Vergleich zu 52,2% ihrer mietenden Gegenstücke. Diese Diskrepanz ist zwischen den jüngeren Generationen deutlich größer als bei den älteren, wobei die Gen X nur einen geringen Unterschied aufweist (42,6% Hauseigentümer gegen 38,8% Mieter). Der Vorteil für junge Hauseigentümer ergibt sich aus dem Hauskaufboom während der Pandemie, der vielen erlaubte, im Zeitraum 2021-2022 während steigender Immobilienwerte substanzielle Eigenkapital aufzubauen. Die Babyboomer sind die einzige Generation, in der die Mehrheit angibt, schlechter dazustehen, wobei etwa 40% sowohl der Hauseigentümer als auch der Mieter einen finanziellen Rückgang anzeigen.
- 68.7% of millennial/Gen Z homeowners report improved financial status
- Young homeowners benefited from substantial home equity gains during 2021-2022
- Home values continue to rise, benefiting existing homeowners
- Housing affordability has worsened with mortgage rates more than doubling from pandemic lows
- Home prices remain near record highs, pricing out many potential buyers
- Asking rents are still 20% above pre-pandemic levels
- 40.2% of baby boomer renters and 38.2% of homeowners report being worse off financially
Insights
This survey reveals critical insights into wealth inequality dynamics among different generations. The 16.5% gap between millennial/Gen Z homeowners and renters reporting improved financial status is particularly significant. Young homeowners who purchased during the pandemic's low mortgage rates have benefited from substantial home equity gains, creating a widening economic divide.
The data shows a concerning trend in housing accessibility, with current market conditions (
The survey findings highlight a structural shift in wealth accumulation patterns that could impact future market dynamics. Young homeowners who secured properties during the pandemic's low-rate environment have effectively locked in significant financial advantages through home equity growth. This wealth effect creates a distinct economic class among younger generations that could influence future consumer spending, investment patterns and housing market dynamics.
The generational disparity in financial well-being, particularly among baby boomers, suggests potential changes in housing market demographics and demand patterns. This could affect Redfin's business model and revenue streams, as market accessibility continues to be a challenge for new buyers.
Redfin survey shows the gap between homeowners and renters in younger generations is much larger than the gap in older generations
There is a much larger discrepancy between how young homeowners and renters feel than there is between how older homeowners and renters feel. For example, Gen X homeowners were more likely than Gen X renters to say they’re faring better than they were four years ago, but not by much—
As recently as four years ago, millennials were considered the “unluckiest generation” given their relatively weak economic standing, but that started to shift during the pandemic. Scores of young Americans bought their first home during the pandemic or the years leading up to it, and then benefited from an historic surge in home values fueled by the 2021-2022 homebuying boom. That helped many young people build tremendous home equity, and home values are still on the rise today.
“Economic inequality is on the rise between young people who have been able to break into homeownership and young people who haven’t,” said Redfin Economics Research Lead Chen Zhao. “There was a short window during the pandemic when mortgage rates were extremely low, allowing a lot of millennials and Gen Zers to buy homes—but not everyone could afford to take advantage of the window. Housing affordability has worsened dramatically since then, with mortgage rates now more than double their pandemic low and home prices near their record high. As a result, many young folks are priced out of homeownership and the wealth gains that come with it, and many of the people who did buy homes during the pandemic couldn’t afford to buy their same home today.”
While rent growth has stagnated over the last year, asking rents are still roughly
The Lion’s Share of Baby Boomers Report Being Worse Off Than 4 Years Ago
Baby boomers were the only surveyed generation for which the lion’s share of respondents said they’re worse off financially than they were four years ago;
By comparison,
This is according to a Redfin-commissioned survey conducted by Ipsos in September 2024. The survey was fielded to 1,802 people aged 18-65. For the purposes of this report, Redfin defines Gen Zers as those aged 18-27, millennials as those aged 28-43, Gen Xers as those aged 44-59 and baby boomers as those aged 60-65.
To view the full report, including a chart and additional methodology, please visit: https://www.redfin.com/news/young-homeowners-financially-better-off-survey
About Redfin
Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can have our renovations crew fix it up to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than
Redfin’s subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®.
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241029838829/en/
Contact Redfin
Redfin Journalist Services:
Ally Forsell, 206-588-6863
press@redfin.com
Source: Redfin
FAQ
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