Generation Z saving to buy homes

By  | 

NBC News (NBC) - Gen-Z, young adults between 18 and 25, say they're already saving to buy a home.

And more than half are planning to be homeowners in the next five years, according to a survey by Bank of America.

The survey found that to reach their goal, Gen Z would rather use $5000 to save for a down payment than plan a dream wedding, go shopping or take a vacation.

Over half of Gen Z-ers said starting a family was a top reason for buying a house.

To save, Gen Z-ers plan to get a second job, go to a university that would leave them with less debt or move back in with their parents.