Buying Homes with Friends: A New Trend Among Millennials and Gen Z
Wednesday, 18 September 2024, 13:07
Co-Ownership: A Growing Trend
Buying homes with friends is not just a passing trend; it’s a significant movement among Millennials and Gen Z. With soaring housing prices and economic uncertainty, many young adults find that sharing the financial burden of homeownership makes it more achievable.
Why Co-Ownership Matters
- Affordability: By pooling resources, friends can afford properties that would be out of reach individually.
- Community Support: Living with friends creates a support system, making the transition to homeownership less intimidating.
- Flexibility: Co-ownership can provide flexibility in living arrangements and financial obligations.
Survey Insights
According to a recent survey, nearly 15% of Americans have co-owned a home with non-romantic partners. Furthermore, around 48% express willingness to consider this arrangement. This illustrates a fundamental change in how we view homeownership.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.