Survey finds generation distribution on economics, housing market

That view was the strongest among baby boomers – predicting half of a decline – compared to 31% of the Z – Respondents.

“Americans are clearly divided when it comes to their prospects for the economy and the housing market, but what is striking is the optimism between younger generations,” said Joel Berner, senior economist at Realtor.com. “Gen Z and Millennials have largely grown up in a period of high housing costs and volatile mortgage interest rate, but they are more likely than older generations to believe that the circumstances will remain stable or will even improve.

“That optimism could be a powerful engine of housing demand in the coming years, because younger buyers remain motivated to enter the market despite continuous affordability problems.”

Opinions about interest rates were almost equal spread over generations – with 33% believes they will improve in the coming months, 34% expect them to remain the same and 33% think they are getting worse.

Baby boomers most likely anticipated 40%improvement, while Gen X (30%), Millennials (32%) and Gen Z (31%) were less confident.

In the housing market, 40% of all respondents expect little change in the coming year. Younger generations were more likely to have a neutral or positive image.

Only 25% of the respondents of Gen Z said that the market would deteriorate – compared to 30% of the millenials, 37% of Gen X and 36% of baby boomers.