Generation Z. As much as you may think it’s the beginning of the Zombie Apocalypse, it’s not.
Now, of course you know what the Baby Boomer generation is. IF you’re on our website, you probably are a Baby Boomer. And then came the Millennials, who probably include your children, and even your grandchildren. But now I’m hearing about Generation Z for the first time. I don’t know anything about Generation Z, so excuse me while I Google it. It’ll only take a minute, imagine you’re listening to elevator music while I’m gone.
Found it! Sorry you had to wait so long.
What I learned about Generation Z is that their birth years started somewhere between mid 1990s to the mid 2000s. Nobody has decided what the end of Generation Z’s birth years is, or will be. They seem to have the same values about owning a home as their parents and older siblings do. Having been born with technology, they are very comfortable with tech. Much of their social interaction is via social media. Since 47% of Generation Z identifies themselves as non-white, they are the most racially and ethnically diverse generation this country has ever seen. And they face many of the same challenges that minority buyers face today. Nonetheless, Generation Z is entering the housing market in droves, mostly starting as tenants.
They have the same challenges such as finding jobs that fulfill them and are financially rewarding. And the same shortage of available housing is giving them cause for concern. And they are beginning to make an impact in the housing market. It is estimated that by 202 there will be more Generation Z’ers than millennials.
It will be interesting to see how much of an impact Generation Z will make in the housing market.
Stay tuned. You have not heard the last of Generation Z.