Across age groups, consumers believe that purchasing a home is a solid investment, according to a new survey from Porch.com, a home remodeling website. They’re upbeat even though many, particularly the youngest generation, believe they will face another housing crisis in their lifetime.
About 76 percent of Generation Z members, between 18 to 21 years old, said they believe another housing crisis will happen within the next 10 years. Still, they remain cautiously optimistic and are saving for a down payment to buy their first home.
Homeownership has long been linked with long-term wealth building. Porch.com surveyed nearly 1,400 consumers to ask them what they believe is the safest investment over the next 10 years. Owning a home was the overall leader.
Source: “Generational Housing Outlooks,” Porch.com (October 2019)
