Story at a glance
- Recent polling shows millennials and Gen Z are willing to make serious sacrifices for the chance to own a home – especially if it’s free.
- Sixty-five percent would give up social media for a year and 28 percent said they would do the same with the internet.
- More than half said they would publicly change their voter registration.
Most young Americans still view homeownership as a sign of success, but rising home prices, material costs and inflation have made the process increasingly difficult.
Yet, recent polling shows millennials and Gen Z are willing to make serious sacrifices for the chance to own a home – especially if it’s free.
Cinch Home Services, a home warranty company based in Boca Raton, Florida, found in a poll conducted earlier this month that both generations are ready to publicly change political parties for a free, single-family home in the location they desire.
More than half said they would publicly change their voter registration while 38 percent said they would be willing to live in a state with opposing politics. Another 21 percent said they would vote for a president they did not agree with.
Young Americans are also ready to give up aspects of their social lives to attain homeowner status. Sixty-five percent would give up social media for a year and 28 percent said they would do the same with the internet.
Roughly 43 percent are willing to give up their smartphones for good and revert to using flip phones.
Apart from social and political status, young Americans indicated they would put off their careers, sacrifice having children and break-up with a partner for a free home. About 20 percent are willing to give up having children.
Cinch Home Services surveyed 1,024 U.S. adults between the ages of 18 and 41. The poll had a margin of error of 3 percentage points.
Home prices in June were up 10.9 percent compared to last year with the median home price at nearly $428,000.
Separate polling from May shows that 79 percent of homebuyers between the ages of 18 and 29 had help from their parents when purchasing their first home. One in 10 homeowners across all age groups said their parents purchased the property for them outright.