While homeownership is traditionally viewed as a quintessential rite of passage, for many millennials and Gen Z, the goal of buying a house feels out of reach.
A 2025 Bankrate survey found that 22% of aspiring millennial buyers could not find a property they could afford between 2020 and 2025 and had given up on buying a home. It was the highest percentage among all generations, with Gen Xers at 17%, Gen Zers and baby boomers at 12%.
Some other major obstacles to homeownership include high mortgage rates and low supply.
Amanda Pendleton, home trends expert at Zillow, says prospective homebuyers have had to get creative because they face two major hurdles: saving enough for a down payment and fluctuating mortgage interest rates.
More and more some young aspiring homebuyers are exploring an unconventional way to achieve that American dream: “Co-buying” with friends.
