The race is close, though. 27.8% of 24-year-old Gen Zers are homeowners compared to 24.5% of Millennials when they were the same age.

不過，這場競爭也很激烈。在 24 歲的 Z 世代中，27.8% 的人是房主，而在千禧一代中，24.5% 的人是房主。

Gen X had a lower rate at 23.5%.

X 代的比例較低，為 23.5%。

I'm so happy with buying a home and in the moment, I didn't know if I was making the right call.

我對買房感到非常高興，當下，我不知道自己的決定是否正確。

Who knows the bad things that can happen if you really don't make ends meet after you buy a home.

如果買房後真的入不敷出，誰知道會發生什麼糟糕的事情。

But fortunately, I did get through it and I think I'm in a way better place now.

但幸運的是，我度過了難關，我想我現在的處境已經好多了。

Gen Z makes up only 3% of homebuyers.

Z 世代僅佔購房者的 3%。

This generation is entering home ownership with the lowest income and are unlikely to be married or have children under 18 in their household.

這一代人的收入最低，不太可能結婚或家中有 18 歲以下的孩子。

In 2023, almost three quarters of Gen Zers said they plan to buy a home within six years, even though the market is tough for buyers.

2023 年，近四分之三的 Z 世代表示，儘管市場對買家來說很艱難，但他們計劃在六年內買房。

It is an incredibly difficult housing market right now.

現在的房地產市場異常艱難。

We have very limited housing inventory and we have had very limited housing inventory for a long period of time.

我們的住房庫存非常有限，而且長期以來一直非常有限。

It's pushed up home prices at the same time that interest rates are at a higher point than they have been in the last few years.

在房價上漲的同時，利率也達到了過去幾年來的最高點。

So how is Gen Z affording homes sooner than their elders could?

那麼，Z 世代是如何比他們的長輩更早地買得起房子的呢？

And what implications will that have for the housing market and U.S. economy?

這將對房地產市場和美國經濟產生什麼影響？

In January 2021, the 30-year fixed mortgage rate hit a record low.

2021 年 1 月，30 年期固定抵押貸款利率創下歷史新低。

I signed less than 3% on my mortgage, which is, you know, an astronomical low.

我的抵押貸款利率不到 3%，你知道，這是一個天文數字的低點。

That's historic.

這是歷史性的。

So I probably will never give that up.

所以，我可能永遠都不會放棄。

I won't buy until either I don't need a mortgage, I can make an equity transaction.

除非我不需要抵押貸款，或者我可以進行股權交易，否則我是不會買的。

Gen Z was looking like they were doing better than Millennials, better than Gen X, because they were buying homes at a faster rate.

Z 世代看起來比千禧一代、X 世代要好，因為他們買房的速度更快。

But I think a lot of that had to do with how low interest rates were during those years and remote work opening up more possibilities for Gen Zers to buy homes in places that are more affordable.

但我認為，這在很大程度上與這些年的低利率有關，而且遠程工作為 Z 世代提供了更多機會，讓他們可以在更能負擔得起的地方買房。

I had just turned 21 years old when I bought my home.

買房時，我剛滿 21 歲。

Dominic purchased his first home in October 2020 for about $200,000.

Dominic 於 2020 年 10 月購買了自己的第一套住房，價格約為 20 萬美元。

He previously rented it while attending nearby Stockton University.

此前，他在附近的斯托克頓大學上學時租住過這所房子。

I did not want to pay over $1,200 a month to live on campus, and I just didn't see the value in doing that.

我不想每月支付超過 1200 美元的校內生活費，而且我也看不到這樣做的價值。

During that time, with the mortgage rates, it was cheaper for me to buy a home than it was to live on campus.

那段時間，由於房貸利率的原因，對我來說買房比住在校園裡便宜。

Most Gen Zers were making their purchases in the Midwestern region.

大多數 Z 世代在中西部地區購物。

Areas like Lincoln, Nebraska, Toledo, Ohio, South Bend, Indiana, Tuscaloosa, Alabama, and Eugene-Springfield, Oregon were popular with Gen Z homebuyers.

內布拉斯加州的林肯、俄亥俄州的托萊多、印第安納州的南本德、阿拉巴馬州的塔斯卡盧薩和俄勒岡州的尤金-斯普林菲爾德等地區受到 Z 世代購房者的青睞。

About 28% of homeowners in Lincoln, Nebraska are part of Generation Z.

內布拉斯加州林肯市約 28% 的房主屬於 Z 世代。

Gen Z may be moving there because the median property value was nearly $200,000 in 2022, while the national average was around $500,000 that same year.

Z 世代可能會搬到那裡，因為 2022 年的房產價值中位數接近 20 萬美元，而同年的全國平均值約為 50 萬美元。

Gen Z also bought homes in places like Virginia Beach, Virginia, Cincinnati, Ohio, Detroit, Michigan, St. Louis, Missouri, and Indianapolis, Indiana.

Z 世代還在弗吉尼亞州的弗吉尼亞海灘、俄亥俄州的辛辛那提、密歇根州的底特律、密歇根州的聖地亞哥等地買房。密蘇里州路易斯和印第安納州印第安納波利斯。

The typical home purchased by Gen Z in these areas cost $255,000 or less in 2022.

2022 年，Z 世代在這些地區購買的典型房屋價格為 25.5 萬美元或更低。

Gen Z buyers are purchasing at the lowest household incomes of all homebuyers out there.

在所有購房者中，Z 世代購房者的家庭收入最低。

So they're making the most financial sacrifices, but they're also making compromises on the home.

他們在經濟上做出了最大的犧牲，但在家庭方面也做出了妥協。

So maybe the condition or the age of the home.

所以，可能是房屋的條件或屋齡。

When they were younger, Millennials were more inclined to live in urban areas.

千禧一代在年輕時更傾向於居住在城市地區。

Cities like Boston, San Francisco, Seattle, and Washington, D.C. had a high share of 18-to-24-year-old homebuyers in the mid-2010s.

在 2010 年代中期，波士頓、舊金山、西雅圖和華盛頓特區等城市的 18-24 歲購房者比例較高。

But Millennials faced the Great Recession when they entered the housing market in the late 2000s.

但是，千禧一代在 2000 年代末進入住房市場時，卻面臨著經濟大衰退。

Because of those housing barriers, Millennials were more likely to stay in their parents' home for a longer time than previous generations.

由於這些住房障礙，千禧一代比上一代更有可能在父母家中居住更長時間。

Gen Z has learned from Millennials before them.

Z 世代向他們之前的千禧一代學習。

They've learned about student loan debt.

他們已經瞭解了學生貸款債務。

They're weighing their pros and cons when they go to college, and they're being financially savvy when they think about where they want to place their money and what they want to do with it.

他們在上大學時會權衡利弊，他們在考慮把錢花在哪裡以及用錢做什麼時會精打細算。

And it seems to be housing.

而且似乎是住房。

While some Gen Zers bought homes, there are more living at home with their parents. 31% of Gen Z live in their parents' home currently.

雖然有些 Z 世代買了房，但更多的 Z 世代與父母住在一起。31% 的 Z 世代目前住在父母家中。

Meanwhile, Boomers, those born between 1946 and 1964, began buying homes during the 1970s and early 1980s, when the 30-year fixed mortgage spiked over 18%.

與此同時，1946 年至 1964 年出生的 "潮一代 "在 20 世紀 70 年代和 80 年代初開始購房，當時 30 年期固定抵押貸款利率飆升至 18% 以上。

During 1970, when the oldest Boomer was 24, the majority of U.S. homeowners in a two- or more-person household under 25 lived in the southern region.

1970 年，年齡最大的 "潮一代 "為 24 歲，當時美國大多數 25 歲以下的雙人或多人家庭房主都住在南部地區。

In addition to the easy interest rate environment housing advantage, some Gen Zers were able to get a head start from their family members.

除了利率環境寬鬆的住房優勢，一些 Z 世代還能從家庭成員那裡獲得先機。

More than 36% of Gen Z and Millennials who plan to purchase are expecting their family to help them with the down payment.

在計劃購房的 Z 世代和千禧一代中，超過 36% 的人希望家人能幫助他們支付首付款。

I had my parents co-sign on the mortgage because at that age, regardless of your credit, you pretty much have to have a co-signer and I understand that not everybody has that opportunity.

我讓我的父母共同簽署了抵押貸款，因為在那個年齡，無論你的信用如何，你幾乎都必須有一個共同簽署人，我明白並不是每個人都有這樣的機會。

If a Gen Z member was in a good economic position, they had a job or they had help from family to afford a home, and they were able to buy a home, then they made out really well because home values went up considerably from 2021 to where we are now.

如果 Z 世代成員經濟狀況良好，有工作或有家人幫助買得起房，並且能夠買房，那麼他們的收益會非常可觀，因為從 2021 年到現在，房屋價值上漲了很多。

An average American home in the second quarter of 2024 cost a little over $501,000.

2024 年第二季度，美國住宅的平均價格略高於 50.1 萬美元。

In February 2020, homebuyers needed to earn just over $40,000 in annual income to qualify for a starter home.

2020 年 2 月，購房者的年收入需略高於 4 萬美元，才有資格購買起步房。

Today, a first-time buyer needs to make around $76,000 to afford a typical starter home in the U.S. 2020 experienced new lows for mortgage rates.

如今，在美國，首次購房者需要賺取約 76,000 美元才能買得起一套典型的起步房。 2020 年，抵押貸款利率創下新低。

The 30-year fixed rate was just under 3%.

30 年固定利率略低於 3%。

The typical age of a first-time buyer in 2023 was 35.

2023 年首次購房者的典型年齡為 35 歲。

In New Jersey, the median age was 49.

在新澤西州，年齡中位數為 49 歲。

Similar to the average age, the median price of a home in New Jersey grew.

與平均年齡相似，新澤西州的房屋中位價也有所增長。

The median price of a home for sale in the state of New Jersey right now exceeds $500,000.

目前，新澤西州待售房屋的中位價已超過 50 萬美元。

And that's up over $100,000 from where it was even two years ago.

這比兩年前增加了 10 多萬美元。

So what we're seeing is a market that is increasingly constrained in terms of opportunity for first-time homebuyers and for homebuyers seeking to trade up in houses because of the market compression that we're observing, as well as the tremendous amount of demand.

我們看到的是，由於我們觀察到的市場壓縮以及巨大的需求量，市場上首次購房者和想要換房的購房者的機會越來越少。

Our population is growing year over year, and the number of buyers seeking to purchase homes at the median and lower end of the market continue to climb.

我們的人口逐年增長，尋求購買中位數和低端市場房屋的買家數量持續攀升。

Melanie is a director at the New Jersey Housing and Mortgage Finance Agency.

梅蘭妮是新澤西州住房和抵押貸款金融局的主管。

She and her team help first-time homebuyers who are trying to find homes but can't afford the additional cost to jumpstart their process.

她和她的團隊幫助那些想找房子但又負擔不起額外費用的首次購房者啟動購房程序。

Just 14 states, including New Jersey and one U.S. territory, offer homeowner assistance funding.

只有包括新澤西州在內的 14 個州和一個美國領地提供房主援助資金。

The others have either suspended their programs or are awaiting waitlist applications.

其他項目要麼已經暫停，要麼正在等待候補名單申請。

Across the state, as much as a quarter of families are now coming in with a substantial down payment, often supported by parents, loved ones, significant others that are not necessarily co-borrowers.

在全州範圍內，多達四分之一的家庭現在都有一筆可觀的首付款，通常是由父母、夫妻、重要的其他人（不一定是共同借款人）支持的。

When the market's this tight, any kind of a cash infusion can help you to access a home.

在市場如此緊張的情況下，任何形式的現金注入都能幫助您獲得住房。

And so that pressure is increasingly making it difficult for first-time homebuyers who aren't selling a house and taking that nest egg to buy the next house.

對於那些沒有賣掉房子，也沒有拿著這筆錢去買下一套房子的首次購房者來說，這種壓力越來越大。

Over three-quarters of Gen Z homebuyers have received help on down payments.

超過四分之三的 Z 世代購房者在首付方面得到過幫助。

We're very conscious about trying to find ways to help first-time homebuyers invest and become homeowners while those houses are on the market so that they can really enjoy that opportunity themselves and so that we see that direct investment.

我們非常清楚，要想方設法幫助首次購房者進行投資，並在房屋上市時成為房主，這樣他們就能真正享受到這一機會，我們也能看到這種直接投資。

When you live on a street, you care about the sidewalk, you care about the schools, you care about the lighting.

當你住在一條街道上時，你會關心人行道，關心學校，關心照明。

So we view it not just as helping that individual, but as helping that community.

我們認為這不僅是在幫助個人，更是在幫助社區。

Along with the generational trends in home buying, experts are also seeing a change in who is living inside their homes.

除了購房的代際趨勢外，專家們還發現，居住在家中的人也發生了變化。

Gen Z as homebuyers, they're more likely to be single than they are to be partnered.

Z 世代作為購房者，他們單身的可能性比有伴侶的可能性更大。

So they're doing this actually on their own, which is really interesting when we think about affordability conditions.

他們實際上是靠自己的力量在做這件事，當我們考慮到負擔能力的條件時，這就非常有趣了。

Half of them are single as they go into home buying.

他們中的一半人在買房時都是單身。

We also know they plan on holding their home for a longer period of time than we saw for young millennial buyers at the same age.

我們還了解到，與同齡的千禧一代年輕買家相比，他們計劃持有房屋的時間更長。

Like Gen Z, millennials are also more likely to move in alone. 42% of millennial homebuyers have purchased their homes alone.

與 Z 世代一樣，千禧一代也更傾向於獨自搬入。42% 的千禧一代購房者都是獨自購房。

Only 34% of Gen X are independent homebuyers.

只有 34% 的 X 代人是獨立購房者。

Experts say this trend speaks to how the younger generations are delaying or foregoing marriage altogether.

專家說，這一趨勢說明年輕一代正在延後或完全放棄婚姻。

But those who are interested in purchasing alone could have a harder time qualifying for a mortgage.

但是，那些有意單獨購房的人可能更難獲得抵押貸款資格。

Mortgage lenders look at annual salaries to determine how much a potential client can afford to borrow.

按揭貸款機構根據年薪來確定潛在客戶能夠承擔的貸款額度。

This could potentially affect Gen Z because they are most likely receiving entry-level salaries, they owe a substantial amount of debt compared to their parents when they are the same age, and they're grappling with the high cost of living from inflation.

這可能會影響 Z 世代，因為他們很可能拿的是初級工資，與同齡的父母相比，他們欠下了大量債務，而且他們還在努力應對通貨膨脹帶來的高生活成本。

Gen Z homebuyers have comparatively lower incomes compared to other homebuyers because they are just starting out in their careers.

與其他購房者相比，Z 世代購房者的收入相對較低，因為他們的事業剛剛起步。

So they're competing against Gen X and millennial homebuyers who've been in the marketplace longer and who were closed out in the last decade from home purchases.

他們的競爭對手是 "X一代 "和 "千禧一代 "的購房者，這些人在市場上的時間更長，而且在過去十年中已經結束了購房計劃。

Roughly 38% of Gen Zers and millennials believe they have a harder time building financial wealth than their parents did because they feel left behind by the economy, while 17% believe they have it easier.

大約 38% 的 Z 世代和千禧一代認為，他們比父輩更難積累財務財富，因為他們覺得自己被經濟拋棄了，而 17% 的人則認為他們更容易積累財務財富。

And in some ways, Gen Z may be right.

在某些方面，Z 世代可能是對的。

Although Gen Z is in fact making more money than their parents did at the same age, they've racked up more debt than their parents.

雖然 Z 世代事實上比他們的父母在同一年齡段賺的錢更多，但他們欠下的債務卻比他們的父母更多。

An 18 to 24-year-old in 2022 made $20,000 in wages after adjusting for inflation.

2022 年，一名 18 至 24 歲的年輕人在扣除通貨膨脹因素後的工資為 20,000 美元。

That's nearly $5,000 more than what 18 to 24-year-olds made in 1992.

這比 1992 年 18-24 歲年輕人的收入高出近 5,000 美元。

Yet Gen Z carries more student loans and mortgage debt than their parents.

然而，Z 世代揹負的學生貸款和抵押貸款債務比他們的父輩更多。

The average 18 to 24-year-old in 2022 held $117,000 in mortgage debt, while the same age group in 1992 owed $39,367.

2022 年，18 至 24 歲的年輕人平均擁有 11.7 萬美元的抵押貸款債務，而 1992 年同一年齡段的年輕人平均擁有 39367 美元的債務。

For every $10,000 that you see an increase in someone's student loans, that basically reduces their ability to purchase a home by 10 or 15%.

學生貸款每增加 1 萬美元，他們的購房能力就會降低 10%或 15%。

Gen Z homebuyers have comparatively lower incomes compared to other homebuyers because they are just starting out in their careers.

與其他購房者相比，Z 世代購房者的收入相對較低，因為他們的事業剛剛起步。

When it comes to the workforce, job security is a major obstacle for this age group.

說到勞動力，工作保障是這一年齡組的主要障礙。

And while young adults are more likely to be employed full-time than young adults three decades ago, those 18 to 24 only saw a 1% gain in their share of full-time workers compared to the same age group that worked full-time in 1993.

雖然與三十年前相比，年輕人更有可能從事全職工作，但與 1993 年從事全職工作的同一年齡組相比，18 至 24 歲的年輕人在全職工作者中所佔的比例僅增加了 1%。

It wasn't easy.

這並不容易。

I worked at least 40 hours a week during college just to make it happen.

大學期間，我每週至少工作 40 個小時，就是為了實現這個目標。

These financial obstacles are impacting Gen Z and driving a wedge between their goal to be homeowners.

這些財務障礙正在影響 Z 世代，並在他們成為房主的目標之間製造障礙。

In 2023, after mortgage rates soared to as much as 8%, the home ownership rate for adult Gen Z-ers stagnated.

2023 年，在抵押貸款利率飆升至 8%之後，Z 世代成年人的住房擁有率停滯不前。