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Is Owning a Home Still the American Dream for Younger Buyers?

The American Dream holds different meanings for everyone. In a recent Bankrate survey exploring the achievements synonymous with this dream, owning a home emerged as the top aspiration for many Americans, trumping retirement, career success, and even higher education (as depicted in the graph below).



Yet, the question arises: does the dream of homeownership still resonate strongly with younger generations?


A recent 1000watt survey delves into the sentiments of Gen Z and millennials, often considered the renter generations, about their desires for homeownership. The resounding response? Yes, they aspire to own a home in the future (as highlighted in the graph below).



While various factors influence the preference for homeownership over renting, the 1000watt survey highlights a significant emotional aspect: 63% of Gen Z and millennials believe a place doesn't truly feel like "home" unless they own it—an emotional connection many can relate to.


Further probing into the motivations behind this desire for homeownership reveals that, beyond the financial advantages, lifestyle and emotional benefits take precedence (as depicted in the graph below).



What Does This Mean for You?

For Gen Z and millennials aspiring to purchase a home, teaming up with an adept real estate agent becomes crucial. Their expertise navigating today's challenges—high mortgage rates, limited inventory, and soaring home prices—can help turn your homeownership dreams into reality.


Collaborating with a local real estate agent is the linchpin to unlock your version of the American Dream.


Buying a home symbolizes a significant milestone within the fabric of the American Dream. To embark on this journey, kickstart the process by consulting a knowledgeable local real estate expert today.

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