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Bad news for millennials: Generation Z can hardly wait to start buying homes

This generation still believes in the American dream.

More than half (57%) of Generation Z renters are confident that they will own their own home, slightly more than millennials at 55%, according to a new report by real-estate firm Zillow released Wednesday. “Many of them say their concept of homeownership is not any different from their parents’ generation,” said Jeremy Wacksman. chief marketing officer at Zillow. (Generation Z generally includes people born in the late 1990s and early 2000s, though precise definitions vary.)

Read also:Student debt is delaying millennial homeownership by seven years

Of course, most Generation Z-ers are a long way away from being able to afford a home: 55% of this cohort earns less than $25,000 annually, according to the study.

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