Dylan Graham: High Costs Hurting Young Gen Z, Millennial Homebuyers

The Pacific Southwest Association of Realtors (PSAR) reports young people trying to enter today’s housing market are having a tough time at becoming homeowners. Gen Z and millennial home shoppers are facing skyrocketing prices, volatile mortgage rates and inflation eating into slim wage gains that could be used for a down payment. According to Dylan Graham, 2022 PSAR board member, “The entry barriers are especially hard on young people, many of whom already are buried under student debt. Because of the sputtering economy and high taxes, a bright future that was promised is looking less likely.” A recent survey revealed 65 percent of millennials and 59 percent of Gen Z individuals believe homeownership is a sign of success.