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Housing Affordability Is Gen Z's Top Voting Issue

Global Fund Managers Cut CRE Allocations to 15-Year Low and 6 more RE insights

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"We all have two lives. The second one starts when we realize we only have one."


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Real Estate Trends

Availability of Lots for New Homes Drops Year-Over-Year link


  • The New Home Lot Supply report shows a significant year-over-year drop in lot availability across the U.S. The tightening lot supply reflects increased construction activity recently.

  • Limited desirable land near job centers pushes developments to the suburbs, lacking infrastructure. This creates bottlenecks for builders and affects housing market dynamics.

  • Most U.S. markets are still "significantly undersupplied" in lot inventory, complicating new construction. This imbalance challenges the expansion of new housing communities.

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Housing Affordability Is Gen Z's Top Voting Issue link

  • 91% of adult Gen Zers consider housing affordability a crucial factor in their voting decisions, making it their top issue. This surpasses other concerns such as the economy, abortion, and gun rights.

  • Home prices have surged over 40% since the pre-pandemic period, with 2023 being the least affordable year on record. High mortgage rates and increased rental costs are significant barriers for young potential homeowners.

  • Only 26% of adult Gen Zers currently own homes, highlighting the difficulty for first-time buyers to enter the market. Elevated home prices and rising rents continue to strain their financial capabilities and long-term wealth-building prospects.

Global Fund Managers Cut CRE Allocations to 15-Year Low link

  • A net 28% of managers were underweight in the real estate sector in May, marking a significant drop from April's figures. This shift is linked to rising borrowing costs and prolonged economic uncertainties.

  • The commercial real estate market struggles with the aftermath of ultra-low interest rates and evolving office space demands post-COVID-19. Higher-for-longer borrowing costs in major economies further strain the sector.

  • Fund managers are reallocating from real estate to consumer stocks, bonds, and cash, aiming for more stable returns. The global CRE sector experienced a 4.1% loss in 2023, the worst annual return since 2009.

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Something I found Interesting

More Gen Z Entering the Construction Industry link

  • The share of construction workers aged 25 and under rose to 10.8% in 2022, up from 9% in 2015. This indicates growing interest among younger generations in construction careers.

  • Gen Z is drawn to construction due to modern technology, high college costs, competitive wages, job security, and growth potential. This trend helps counter the aging workforce in the industry.

  • States like Utah have younger construction workers, with a median age below 39. In contrast, West Virginia has the oldest median age at 45 years.

44% of adults would buy their childhood home today if they could afford it link

  • Nearly two-thirds of Americans born in the 1980s (62%) and over half born after 1990 (55%) would buy their childhood home if cost wasn't an issue. However, only 50% of all Americans say they can afford it at today's prices.

  • The nostalgia for childhood homes is driven by positive memories and a sense of comfort and safety. Yet, the affordability gap is significant, with many unable to match their childhood dreams with current financial realities.

  • Dream features from childhood homes, like pools and home theaters, remain popular, with 72% and 76% of adults still wanting these today. Practical features such as air conditioning, walk-in closets, and laundry rooms are now more commonly desired.

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