Bank of America surveyed Generation Z, those born since 1996, and discovered that 59% of them between the ages of 18 and 23 want to buy a house in the next 5 years and more than half have already started to save money to buy one. BofA also found that this young generation of adults is prioritizing saving over frivolous spending (such as Avocado Toast for Millennials) and are making sacrifices to save money.
Finally, according to the survey, saving for a house is a more important goal than planning a wedding or taking a vacation. It appears that Gen Z will be buying homes at an earlier age than Millennials. This is good news for us!