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Gen Z already buying homes

Generation Z – the post-millennial generation – is already making a move into homeownership. This generation, which tops out at age 23, consists of those born in 1995 or later.

Nearly 100,000 members of Gen Z have a mortgage, according to data from TransUnion, a credit agency. Their average loan balance is $140,000.

In comparison, 12 million millennials had a mortgage in the fourth quarter of 2017, while Generation X had 24 million mortgages, baby boomers had 27 million, and the silent generation had 5.1 million mortgages, according to TransUnion’s data. 

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