Syndication: Sarasota Herald-Tribune
(New York, NY) — A third of Gen Z live with a parent or family member because they can’t afford to rent or buy their own place. A Inuit Credit Karma survey finds, 31-percent of Gen Z-ers are living with parents after being hit particularly hard by high housing costs, elevated interest rates and stagnant wage growth. Renting isn’t any better, in 2022, 30-percent of the median income is now needed to pay the average rent for the first time. Last year, the typical first-time homeowner was 36 years old, according to the Association of Realtors. That’s a record high, and a full decade older than the oldest Gen Zer.
