{"id":1036,"date":"2026-03-10T15:00:27","date_gmt":"2026-03-10T15:00:27","guid":{"rendered":"https:\/\/stock999.top\/?p=1036"},"modified":"2026-03-10T15:00:27","modified_gmt":"2026-03-10T15:00:27","slug":"down-arrow-button-icon","status":"publish","type":"post","link":"https:\/\/stock999.top\/?p=1036","title":{"rendered":"Down Arrow Button Icon"},"content":{"rendered":"

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The housing market only continues to look more bleak for younger generations\u2014and it shows. The average age for a first-time homebuyer recently jumped to 40, signaling the housing market is starved for affordability.<\/p>\n

And younger generations are so disappointed and frustrated by the state of the housing market they are spending more of their earnings than they are saving, they\u2019re working less, and they\u2019re making risky investments, according to a paper by Northwestern University and University of Chicago researchers.\u00a0<\/p>\n

In other words, younger generations are \u201cgiving up.\u201d That\u2019s according to Northwestern\u2019s Seung Hyeong Lee and Chicago\u2019s Younggeun Yoo, who also cited a 2024 Harris Poll survey about the state of real estate that showed 42% of Americans and 46% of Gen Z respondents agreed with this statement: \u201cNo matter how hard I work, I will never be able to afford a home I really love.\u201d<\/p>\n

While households typically adjust consumption to stay on track with long-term goals like buying a home, younger people are crossing a \u201cthreshold at which they begin to give up on [buying a home] entirely.\u201d<\/p>\n

The idea that this generation is \u201cgiving up\u201d is also echoed in an analysis by Gen Z\u2019s favorite economist, Kyla Scanlon, who argues younger people face a sense of \u201cfinancial nihilism,\u201d a phenomenon in which they question the American Dream amid stagnant wages, student loan debt, and corporate dominance.\u00a0<\/p>\n

Gen Z has \u201cwatched the American Dream rot before their eyes, as higher education becomes a luxury good, a housing crisis exacerbates the cost of living, all backdropped by political stagnation and rapid (perhaps even too rapid) technological advancement,\u201d she wrote, making the point this generation has lived through not one, or two, but three major economic downturns.\u00a0<\/p>\n

Gen Z doomspending and financial nihilism<\/p>\n

The first phenomenon Lee and Yoo outline regarding Gen Z\u2019s withdrawal from buying a home is that they\u2019re spending more money than they\u2019re saving.\u00a0<\/p>\n

\u201cWe find that when home prices rise to the point where renters can no longer afford to buy a house within the foreseeable future by saving their wages, renters give up on home purchases and instead use their savings to increase consumption,\u201d they wrote.\u00a0<\/p>\n

Several other studies this year have shown Gen Z is doomspending rather than saving, with one study showing nearly half don\u2019t even have an emergency fund saved up. A Bankrate survey also showed as many as 27% of Gen Z carry more debt than they do savings.<\/p>\n

\u201cMany Gen Zers find themselves walking a financial tightrope, torn between covering immediate expenses or setting money aside for emergencies and paying for goods on credit instead,\u201d Aleksandra Medina, cofounder of finance app Frich, previously told Fortune.<\/p>\n

Some of that may be owing to the fact Gen Z expects to inherit money and assets from the $124 trillion Great Wealth Transfer, but a Northwestern Mutual survey shows very few can expect a windfall of cash upon a relative\u2019s death.<\/p>\n

Gen Z doesn\u2019t think it\u2019s worth working hard to save up<\/p>\n

We\u2019ve all heard Gen Z supposedly doesn\u2019t work as hard as other generations, which may or may not be true\u2014it\u2019s somewhat impossible to measure.\u00a0Lee and Yoo found in their research Gen Z has cut down on their effort at work because they don\u2019t think it\u2019s worth it if they can\u2019t afford long-term financial goals. They cite answers to psychographic questions about the importance of \u201calways giving my best effort\u201d at work. Their research shows the share of renters reporting low work effort is nearly twice the rate observed among homeowners.<\/p>\n

\u201cThis shift is consistent with a reallocation of time and effort by discouraged renters,\u201d the researchers wrote. \u201cAs the perceived returns to labor (in terms of progressing toward homeownership) diminish, so does the value they place on maintaining high work effort.\u201d<\/p>\n

Scanlon has a different take on Gen Z\u2019s work effort, though.\u00a0<\/p>\n

She argues: \u201cMaybe it\u2019s not that they don\u2019t want to do anything anymore, but rather they don\u2019t want to do anything in the way that it\u2019s always been done anymore.\u201d\u00a0 <\/p>\n

Gen Z is making risky investments<\/p>\n

The third way Gen Z is responding to their inability to buy a home, the researchers argue, is by taking on risky investments, like buying cryptocurrencies. Their research also shows when buying a home for a Gen Zer seems unaffordable, they also increase their leisure spending.<\/p>\n

\u201cRenters with a plausible path to homeownership may exhibit lower risk tolerance, as significant losses could derail their progress toward that goal,\u201d they wrote. \u201cIn contrast, those who have already given up on homeownership may perceive they have less to lose, and therefore engage more willingly in risky financial behavior.\u201d<\/p>\n

Other 2025 research indicates Gen Z is far more likely to own crypto than have a retirement account, illustrating how they\u2019re more willing to take on riskier investments. And finance experts are worried about the pattern, they told Fortune\u2019s Emma Burleigh.<\/p>\n

\u201cIt\u2019s never a bad thing for people in any generation to take interest in their personal finances,\u201d Mark Smrecek, financial well-being market leader at Willis Towers Watson (WTW), told Fortune\u2019s Burleigh. \u201cI think as long as they\u2019re looking at risk and reward based on what their goals are, it\u2019s generally fine. But I do get concerned when I see over-indexing toward risky assets.\u201d<\/p>\n

A version of this story was originally published on Fortune.com on December 12, 2025.<\/p>\n

More on Gen Z:<\/p>\n

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