Read previewHomeownership is helping some millennials get rich — but Gen Zers might have a hard time following in their footsteps.
Some Gen Zers managed to get in on the fun — about a quarter of Gen Zers between the ages of 19 and 26 owned a home as of 2023, per Redfin.
AdvertisementWhat's more, Silk said there's a larger reason Gen Zers shouldn't count on homeownership to boost their wealth.
AdvertisementThese costs are already putting pressure on current homeowners, and by the time more Gen Zers buy homes, they could be even more burdensome.
Their monthly payment is gone forever, and it has zero chance of providing an investment return.
Persons:
—, Zers, millennials, Gen Zers, Roger Silk, Silk, hasn't, It's, it's
Organizations:
Service, Federal Reserve, Business, World Bank