The desire to own a home is equally strong among baby boomers and millennials. Both generations prefer single-family homes. For both 60- to 75-year-old baby boomers and 25- to 39-year-old millennials, the desire to own their own home is second only to their health. This is the result of the Interhyp Dream Home Study 2024. The study also shows that financial barriers make it more difficult to buy, but do not diminish the desire to do so.
According to the study, millennials are willing to compromise. This is particularly true for those who are currently tenants and are looking to buy a property. Many can imagine reducing their personal expenses and accepting additional workloads in order to fulfill their dream of owning their own home. This is in contrast to the often expressed assumption that younger people are less willing to compromise. The results of the study refute this and emphasize the determination of millennials to acquire property.
Both baby boomers and millennials agree that buying a home has become more difficult over time. They observe an increase in real estate prices and ancillary costs compared to previous decades, making the buying process more difficult. This shared view of the real estate market by both generations reflects a broad recognition of the financial challenges associated with buying real estate today.
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