Housing crisis drives home co-ownership for Gen Yers
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Signal
Oct 18, 2021
Housing crisis drives home co-ownership for Gen Yers

Gen Yers, or Generation Rent, have had a hard time getting on the property ladder but they’re increasingly pooling resources to buy homes with friends and partners. A mix of burdensome debt, soaring house prices, and a non-conformist attitude has led to a generational embrace of co-ownership.

Between 2014 – the year that Gen Yers became the biggest homeowner cohort – and 2021, Attom Data Solution registered an increase of 771% of homebuyers with different surnames. The pandemic seems to have increased this shift: between April to June 2020 alone, 11% of homes purchased were by unmarried couples – up from 9% in 2020 – and 3% were by friends – up from 2%. But while more Gen Yers are buying homes, it’s still out of reach for many – at the age of 30, homeownership by American Gen Yers is nine points lower than it was for Boomers when they were that age.