{"id":4610,"date":"2018-06-28T20:39:07","date_gmt":"2018-06-28T20:39:07","guid":{"rendered":"https:\/\/genhq.com\/?p=4610"},"modified":"2022-08-27T10:25:57","modified_gmt":"2022-08-27T10:25:57","slug":"what-to-expect-when-gen-z-enters-the-housing-market","status":"publish","type":"post","link":"https:\/\/genhq.com\/what-to-expect-when-gen-z-enters-the-housing-market\/","title":{"rendered":"What to Expect When Gen Z Enters the Housing Market"},"content":{"rendered":"<p>The housing market might still be reeling from Millennials\u2019 delay in buying homes, but <span style=\"text-decoration: underline;\"><a href=\"\/gen-z-2017\/\" rel=\"noopener\">Gen Z \u2013 the generation after Millennials<\/a><\/span> \u2013 is already setting their sights on homeownership.<\/p>\n<p>According to <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.realtor.com\/news\/trends\/generation-z-adds-market-demand-urban-centers\/\" target=\"_blank\" rel=\"noopener\">a recent report by Realtor.com<\/a><\/span>, Gen Zers are expected to start buying homes within five to 10 years.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-4611\" src=\"https:\/\/genhq.com\/wp-content\/uploads\/2018\/06\/GenZhomes.gif\" alt=\"\" width=\"870\" height=\"500\" \/><\/p>\n<h4>How is Gen Z different from Millennials?<\/h4>\n<p>Gen Z is <span style=\"text-decoration: underline;\"><a href=\"\/real-estate-tide-turning-millennials\/\" rel=\"noopener\">different from Millennials in many ways<\/a><\/span>, and that\u2019s going to influence their home buying preferences. With the oldest recently graduating college, Gen Z is shaping up to be a financially savvy and risk-averse generation. They\u2019ve seen their Millennial predecessors dig themselves deep into student loan debt, so they\u2019re choosing less expensive colleges and more practical career paths. In fact, more than a tenth of Gen Z are already saving for retirement.<\/p>\n<p>Unlike generations before them, Gen Z\u2019s home buying preferences are very different. They are looking for smaller, more affordable starter homes. And as U.S. birthrates continue to fall, researchers believe that members of Gen Z will continue the trend of having smaller families.<\/p>\n<p>\u201cThey&#8217;re not going to stretch to buy a house they can\u2019t afford, because that goes against everything they\u2019ve done up until this point,\u201d said <span style=\"text-decoration: underline;\"><a href=\"https:\/\/jasondorsey.com\/\" target=\"_blank\" rel=\"noopener\">Jason Dorsey<\/a><\/span>, president of The Center for Generational Kinetics. \u201cThey\u2019re going to be very worried about buying a home that might go down in value.\u201d<\/p>\n<p>\u201cThey\u2019re going to want the most efficient use of their money,\u201d added Dorsey, \u201cSo we think a smaller home closer to everything they want will be key.\u201d<\/p>\n<h4>What are the key influencers?<\/h4>\n<p>Realtors cannot underestimate how big a part <span style=\"text-decoration: underline;\"><a href=\"\/how-gen-z-entrepreneurs-use-social-media-to-succeed\/\" rel=\"noopener\">social media<\/a><\/span> will play in \u00a0Gen Z\u2019s home buying experience. Not only will Gen Z do research on social media to see what it\u2019s like to live in certain cities or neighborhoods, they may even prefer to tour homes using <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.realtor.com\/news\/trends\/generation-z-adds-market-demand-urban-centers\/\" target=\"_blank\" rel=\"noopener\">virtual reality<\/a><\/span> rather than inspecting properties in person.<\/p>\n<p>In addition, Gen Z is more likely to have a higher expectation for technology to be integrated in the home itself. Gen Z buyers are going to want homes to function as one, unified system, rather than a separate sprinkler, heating and cooling, and entertainment systems. This is important for today\u2019s homeowners to note. As they prepare to put their homes on the market over the next few years, they may want to consider incorporating technology when making upgrades.<\/p>\n<p>\u201cWhat we consider a smart home today, that\u2019s going to be old news to Generation Z,\u201d said Dorsey.<\/p>\n<h4>Want to Solve Your Gen Z Challenges?<em>\u00a0<\/em><\/h4>\n<p>We lead national and international Gen Z and\u00a0<span style=\"text-decoration: underline;\"><a href=\"\/how-is-generations-research-different-from-market-research\/\" rel=\"noopener\">generational studies<\/a><\/span>\u00a0for our clients every day. We also keynote events around the world, helping businesses better understand their Gen Z customers and workforce.<\/p>\n<p>Let us know how we can help you.\u00a0<span style=\"text-decoration: underline;\"><a href=\"\/contact\/\" rel=\"noopener\">Send us an email<\/a><\/span>\u00a0or give us a call and we\u2019ll be happy to provide a little information for you to review.<\/p>\n<p>Keep the conversation going. Follow The Center on Instagram\u00a0<span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.instagram.com\/thegenhq\/\" target=\"_blank\" rel=\"noopener\">@TheGenHQ<\/a><\/span>\u00a0or on Twitter\u00a0<a href=\"https:\/\/twitter.com\/GenHQ\" target=\"_blank\" rel=\"noopener\">@GenHQ<\/a>. We are passionate about sharing our latest generational discoveries!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The housing market might still be reeling from Millennials\u2019 delay in buying homes, but Gen Z \u2013 the generation after Millennials \u2013 is already setting their sights on homeownership. According to a recent report by Realtor.com, Gen Zers are expected to start buying homes within five to 10 years. How is Gen Z different from [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":4611,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16,23,21],"tags":[],"class_list":["post-4610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-igen-and-gen-z","category-media","category-selling-and-marketing"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What to Expect When Gen Z Enters the Housing Market - The Center For Generational Kinetics<\/title>\n<meta name=\"description\" content=\"The housing market might still be reeling from Millennials\u2019 delay in buying homes, but Gen Z \u2013 the generation after Millennials \u2013 is already setting their sights on homeownership.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/genhq.com\/what-to-expect-when-gen-z-enters-the-housing-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What to Expect When Gen Z Enters the Housing Market - 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