Gen Z, millennials are ‘house hacking’ to become homeowners in a tough market. How the strategy can help
Publishing timestamp: 2023-11-26 08:00:02
Summary
The article discusses the concept of "house hacking," which refers to renting out a portion of your home for additional income. According to a report by Zillow, more than half of millennial and Gen Z homebuyers see house hacking as an important opportunity due to affordability constraints in the current housing market. The article also mentions that renting out a portion of a home can help offset the higher costs of homeownership, but potential buyers need to consider factors such as salary requirements and local regulations. Additionally, the article notes that the opportunity for house hacking may be short-lived as new apartment buildings are being constructed, increasing rental inventory. Despite this, there is still a shortage of affordable housing options in the US.
Sentiment: NEUTRAL
Keywords: real estate investing, personal finance, housing, real estate, breaking news: investing, investment strategy, united states, mortgages, economic events, redfin corp, zillow group inc, business news, housing rental,