{"id":1628781,"date":"2022-08-31T18:19:46","date_gmt":"2022-08-31T22:19:46","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1628781"},"modified":"2022-08-31T18:19:52","modified_gmt":"2022-08-31T22:19:52","slug":"four-times-as-many-generation-z-members-got-parents-help-purchasing-first-home-than-past-generations","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/four-times-as-many-generation-z-members-got-parents-help-purchasing-first-home-than-past-generations\/","title":{"rendered":"Four Times As Many Generation Z Members Got Parents\u2019 Help Purchasing First Home Than Past Generations"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffour-times-as-many-generation-z-members-got-parents-help-purchasing-first-home-than-past-generations%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1628781&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><a href=\"https:\/\/www.dailywire.com\/topic\/generation-z\" target=\"_blank\" rel=\"noopener\">Generation Z<\/a> is four times more likely than past generations to require financial assistance from family members when buying their first <a href=\"https:\/\/www.dailywire.com\/topic\/housing\" target=\"_blank\" rel=\"noopener\">home<\/a>.<\/p>\n<p>According to data from luxury real estate firm <a href=\"https:\/\/www.rubyhome.com\/\">RubyHome<\/a> obtained by The Daily Wire, 79% of members of Generation Z received financial help from their parents when buying their first property \u2014 a substantial increase from the 19% of Baby Boomers and Silent Generation members who reported the same.<\/p>\n<p>\u201cWhen combined, data show that adults under 45 are more than three times as likely as people 45 and older to say their parents gave them a property outright or paid the entire deposit,\u201d the RubyHome analysis summarized.<\/p>\n<p>Prices for single family homes have soared over the past two years. In the second quarter of 2022, the median sale price of a home in the United States was $440,300, according to <a href=\"https:\/\/fred.stlouisfed.org\/series\/MSPUS\">data<\/a> from the Department of Housing and Urban Development, marking a 36% rise from $322,600 in the second quarter of 2020.<\/p>\n<p>Younger Americans have been particularly impacted by the dismal real estate market. An <a href=\"https:\/\/www.dailywire.com\/news\/half-of-millennials-cant-afford-to-rent-a-one-bedroom-apartment-in-californias-biggest-cities\">analysis<\/a> from Filterbuy indicated that at least half of Millennials \u2014 defined by the company as those between 24 and 39 years old \u2014 are unable to afford a one-bedroom apartment in many major American cities. For the metropolitan area surrounding Los Angeles, California, median wages are $36,649 while the annual wage needed to rent a one-bedroom apartment is $72,560.<\/p>\n<p>\u201cThe combination of rising rents and stagnant wages has been a challenge for Americans of all stripes, but certain groups have been more disadvantaged by this state of affairs than others,\u201d Filterbuy explained. \u201cEven well-off households are feeling pressure, as rising real estate costs price would-be buyers out and keep them competing for space in the rental market \u2014 and as they spend more on rent, they have a harder time saving for homeownership.\u201d<\/p>\n<p>Another recent <a href=\"https:\/\/www.dailywire.com\/news\/young-americans-dont-see-a-point-in-saving-for-retirement-in-a-post-covid-world\">study<\/a> from financial services company Fidelity shows that the economic turmoil of the last two years has disrupted many Americans\u2019 savings behavior. Roughly 55% of \u201cNext Gen\u201d \u2014 which the study defines as Americans between the ages of 18 and 35 \u2014 said that they placed their retirement plans on hold as COVID rapidly spread through the United States, while 45% do not \u201csee a point in saving until things return to normal.\u201d Roughly 39% of young adults therefore \u201cplan to retire later.\u201d<\/p>\n<p>The dire financial straits impacting many members of Generation Z reflect a broader <a href=\"https:\/\/www.dailywire.com\/news\/the-decline-of-the-american-family-shown-in-4-statistics\">social decline<\/a> in the United States. Last year, the population of the United States <a href=\"https:\/\/www.dailywire.com\/news\/in-2021-americas-population-grew-at-slowest-rate-since-founding-of-the-nation\">grew<\/a> at its slowest pace since the nation\u2019s founding, according to <a href=\"https:\/\/www.census.gov\/library\/stories\/2021\/12\/us-population-grew-in-2021-slowest-rate-since-founding-of-the-nation.html\">data<\/a> from the Census Bureau. Among other reasons for the decline, the agency cited \u201cdecreasing fertility\u201d and \u201cincreasing mortality due to an aging population,\u201d as well as the onset of COVID. Meanwhile, only 17.8% of America\u2019s 130 million households <a href=\"https:\/\/www.dailywire.com\/news\/only-18-of-american-households-are-families-with-married-parents\">feature<\/a> married parents with children \u2014 a decline from over 40% in 1970.<\/p>\n<p>Over the past several months, Tesla and SpaceX CEO Elon Musk has repeatedly criticized the notion that the world is at <a href=\"https:\/\/www.dailywire.com\/news\/overpopulation-fears-give-way-to-another-bogeyman-a-fertility-slump\">risk of overpopulation<\/a>.<\/p>\n<p>\u201cI think one of the biggest risks to civilization is the low birthrate and the rapidly declining birthrate,\u201d Musk <a href=\"https:\/\/www.dailywire.com\/news\/elon-musk-warns-civilization-will-crumble-without-people-having-more-kids\">explained<\/a> at The Wall Street Journal\u2019s CEO Council Summit last year. \u201cAnd yet, so many people, including smart people, think that there are too many people in the world and think that the population is growing out of control. It\u2019s completely the opposite. Please look at the numbers \u2014 if people don\u2019t have more children, civilization is going to crumble, mark my words.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Generation Z is four times more likely than past generations to require financial assistance from family members when buying their first home. According to data from luxury real estate firm RubyHome obtained by The Daily Wire, 79% of members of Generation Z received financial help from their parents when buying their first property \u2014 a &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1515755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1628781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1628781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1628781"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1628781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1515755"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1628781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1628781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1628781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}