Real estate investor Grant Cardone joins ‘Fox & Friends’ to weigh in, arguing it’s the ‘worst time’ to buy a home in his life.
Fewer Gen Zers and younger millennials are choosing to have children, citing financial hardship as their top concern, recent studies have found.
A new survey of Gen Zers (those born between 1997 and 2012) in the US and Canada found that 4 in 10 young people said they would delay marriage and parenthood.
Only 38% said they hope to get married and have children over raising a pet because of financial stress, Newsweek reported, citing data collected by Best Ontario Casino Sites.
Michael Ryan, a financial expert and founder of MichaelRyanMoney.com, told Newsweek that “rampant inflation and the high cost of living” are to blame for “making important life decisions like parenthood seem impossible and financially burdensome.”
US BIRTHS TO EXPERIENCE HUGE DECLINE IN 2023, EXPERTS SAYS.
CARDIFF, UNITED KINGDOM – SEPTEMBER 27: A pregnant woman poses for a photo. ((Photo by Matthew Horwood/Getty Images) / Getty Images)
“Having children represents a massive financial commitment that many simply don’t feel equipped to take on right now,” Ryan told the media. “Pets provide the companionship and caregiving responsibility of another lifetime, but at a much lower cost.”
AFFORDABLE UNION AN IMPORTANT ELECTION ISSUE FOR 91% OF GEN Z ADULTS, SURVEY FINDS
This issue appears to be on the minds of young American voters in the 2024 presidential election. A new survey conducted by real estate website Redfin found that housing affordability is the most important issue among Gen Zers, with 91% of voters aged 18 and over citing the issue as a deciding factor in who they will support this November.
Both President Biden and former President Trump have made an effort to woo young voters before Election Day.
“Housing affordability is a cornerstone of this year’s presidential election, because even though the economy is quite strong, unemployment is low and wages are rising, buying a home seems impossible for many Americans,” the economist said in the report. senior of Redfin, Elijah de la Campa.
“This is especially the case for young people, who have seen the cost of starter homes rise twice as fast as incomes,” he said.
The findings were similar in Australia, where more than half of those in the 18-34 age group are reluctant to have children because of strained finances, concluded Red Bridge, an Australian research company.
This issue appears to be on the minds of young voters in the 2024 presidential election. (Left: Al Drago/Bloomberg via Getty Images, Right: Scott Olson via Getty Images/Getty Images)
Of the groups analyzed in the study, 35% are educated and 33% earn more than $3,000 (AUD) per week, news.com.au reported. Less than half are homeowners.
Kos Samaras, director of Red Bridge, told the outlet that between exorbitant mortgages and student loans, money is so tight for young people that the thought of starting a family overwhelms them.
“If you were a financial adviser to these young people, you’d say, ‘You can’t afford that,'” he said.
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