News and Opinion: May 13, 2022. Gen Z Homebuyers Are Looking For Inexpensive Cities To Live

According the data for 2021 from the Lending Tree, people from the Generation Z (born 1998-2004) are looking for relatively inexpensive cities to buy a house and avoiding the expensive coastal cities.

This behavior is probably the result of the affordability of homes, which is a function of the prices of homes, their financing terms and the purchasing capacity of the buyers. 2021 was a year of low interest rates, however, 2022 is being characterized by a rapid increase in the interest rates of mortgages. What it probably would end up happening is that young people will reduce the drive to buy a house and settle with renting.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.