Millenials and Gen Z on rocky road to home ownership (includes video story)

Many millennials and members of Gen Z aspire to own a home in the future, but the current reality is that ownership remains is a distant dream for most — well out of their financial reach.

These generations find themselves at a crossroads, perhaps destined to never accumulate the necessary savings to purchase a home. Young people are trapped in a vicious cycle that includes using most of their wages for to pay rent.

Job instability, persistent economic downturns and astronomical housing prices have rendered buying or renting a home nearly impossible.

“It’s very difficult for young people to rent a house because of the high cost of renting [and paying] three months in advance,” said real estate agent Erika Fuentes. “It’s hard for young people to get the money.”

Abdul Djabbour is a Digital Communications Media and Journalism with a Social Media and E-Marketing minor student at Florida International University. He has a passion for the media, he’s a writer for PantherNow and he would like to be a TV anchor or reporter to inform and give a voice to his community.