The New York Times: Gen Zers Are Buying Homes. Here’s Where They’re Looking.

The New York Times, May 26, 2022, Gen Zers Are Buying Homes. Here’s Where They’re Looking.

Rising mortgage rates and steep home prices have been particularly challenging for first-time buyers, especially young adults earning their first paychecks. Many are looking outside expensive metro areas to find more affordable homes in midsize cities, new research shows.

According to a report from LendingTree, the online lending marketplace based in Charlotte, N.C., members of Generation Z — identified by the platform as people born between 1997 and 2012 — accounted for 10 percent of home buyers across America’s 50 largest metro areas in 2021.

The study’s results were dominated by inland cities, as more workers abandoned coastal areas. Louisville, Ky., (at 15.9 percent) climbed into the No. 2 spot from seventh place the previous year, and Oklahoma City (15.3 percent) fell one spot into third place. At the bottom were the notoriously expensive coastal cities of San Jose, Calif. (4.5 percent), New York (4.4 percent) and San Francisco (3.6 percent).

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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