Jay Mattlin, Real Estate Broker with Key Realty

Subscribe and receive email notifications of new blog posts.




Divorce Toolkit | 7 Posts
Fairfield County | 19 Posts
For Buyers | 78 Posts
For Sellers | 54 Posts
Hocking Hills | 1 Posts
House Tips | 68 Posts
Investors | 2 Posts
Lancaster Ohio | 3 Posts
Market Insight | 48 Posts
Ohio Real Estate | 22 Posts
Plants | 24 Posts
Probate Toolkit | 12 Posts
Real Estate Life | 26 Posts
Uncategorized | 5 Posts
Weekly Snippet | 17 Posts
August
10

Buying a house is never easy for younger generations, no matter what decade it is. Home prices always seem too steep, mortgage rates too high, and their incomes too low to be able to easily buy a house.

However, the current market is possibly the most difficult for younger people to become homeowners, due to home prices, mortgage rates, and tremendous competition to buy the low number of homes for sale. So pointing to the claim that eating an occasional avocado toast (or spending on other minor splurges) is stopping them from becoming a homeowner is kind of tone-deaf.

But, you also can't spend more money than you make on food, drinks, and fun times, and expect to be able to buy a house either. Most people need to make some sacrifices in order to save money and buy a house. But according to this recent Yahoo Finance article, a recent survey revealed that over 80% of Millennials and Gen Z claim they've gone into debt… just to hang out with friends who overspend.

The survey — which was conducted by Qualtrics on behalf of Intuit Credit Karma — found that the three largest expenses Millennials and Gen Z spent on in order to hang out with friends, were:

  • Going out to eat
  • "Nights out" and having drinks
  • Taking trips and vacations

The top reasons they gave for spending more money than they have were:

  • Not wanting to feel left out
  • Wanting to keep up with their friends' lifestyle
  • Wanting to please their friend
  • Simply not knowing how to say "no"

Why Bother Sacrificing If It's So Hard for Millennials and Gen Z to Buy?

When you hear so many people saying how difficult it is for Millennials and Gen Z to buy a house, it's easy to give up hope and just spend money on the things that give you some short-term, immediate joy. Why not at least hang out with friends and spend money on food, drinks, and fun?! You're all in the same boat, right? But that's not necessarily true…

According to recent data, nearly a third of Millennials and Gen Z own their own homes, so it's definitely possible to achieve! So what are they doing that the other two thirds of their peers aren't?

You Don't Necessarily Have to End Friendships…

The Qualtrics study mentioned above also found that 47% of Gen Z and 36% of Millennials consider ending friendships due to their friends' spending habits. While it's hard to say whether those who say that are the same ones who go on to own a home, it's interesting that it's a similar percentage to the number of young people who own their own homes.

Hanging out with like-minded people who have similar goals as you certainly doesn't hurt. So if you want to buy a home, it might make sense for you to gravitate toward friends that are trying to save money, build good credit, and buy a home.

But it's also a shame to part ways with friends just because they aren't necessarily as focused or determined as you to buy a house! You can't put a price on good friends in life, and everyone is different. So rather than distancing yourself, or completely ending friendships with people who cause you to spend more money than you should, here are a few things you can do:

  • Share your hopes of owning a home with them. True friends will support your dreams and try not to get in your way.
  • Be a leader and encourage your friends to consider working toward owning one themselves. You might find that they also felt the same way and just needed to hear someone else was focused on doing so!
  • That said, homeownership isn't for everyone, so be respectful of their feelings and don't make them feel bad for not wanting to own a house… at least yet. If someone doesn't feel responsible enough and prepared for it, then they should probably just rent or live at home with family until they're ready.
  • Let your friends know you want to hang out, but that you need to be thoughtful about what you do, and how much money you're spending. Be open about how much you budget for fun times so you can plan on doing things that don't cost too much.

But if you try all of that and your friends are unreceptive, rude, or try to pressure you to spend carelessly and ignore your goals, then you might try to distance yourself or end the friendship. And always be on the lookout for friends who encourage you and help you achieve your goals, whether they have the same ones or not.

The Takeaway:

A recent survey reveals that over 80% of Millennials and Gen Z have incurred debt to keep up with their friends' spending habits. Since many younger people feel like homeownership is so out of reach, it's often easier for them to spend money hanging out with friends, than it is to save money and build their credit in order to buy a house.

If you want to buy a house, be open with your friends about your goals, and establish boundaries and limits on what you can do and how much you can spend when spending time with them. You might just find that they felt the same way, and are glad to have a friend who also wants to watch their spending and save to buy a house!

Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 04/21/2026. The listing information on this page last changed on 04/21/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Tue 04/21/2026 12:27:13 AM EST) or MichRic (Michigan Regional Information Center) (last updated Mon 04/20/2026 11:17:28 PM EST) or Metrolist - RECOLORADO by MLSGRID (last updated Mon 04/20/2026 11:34:26 PM EST) or NIRA MLS (last updated Mon 04/20/2026 11:04:45 PM EST) or RealComp MLS (last updated Tue 04/21/2026 12:15:46 AM EST) or Dayton MLS (last updated Mon 04/20/2026 11:46:37 PM EST) or NORIS MLS (last updated Mon 04/20/2026 11:14:18 PM EST) or IRES MLS (last updated Tue 04/21/2026 12:17:07 AM EST) or Colorado Real Estate Network IDX (last updated Mon 04/20/2026 7:07:11 PM EST) or CBRMLS (last updated Tue 04/21/2026 12:24:26 AM EST) or Multiple Listing Service of Greater Cincinnati (last updated Mon 04/20/2026 11:53:23 PM EST) or Terrehaute MLS (last updated Tue 04/21/2026 12:26:16 AM EST) or elevate MLS (last updated Tue 04/21/2026 12:15:15 AM EST) or Stellar MLS (last updated Tue 04/21/2026 12:13:58 AM EST) or NKY MLS (last updated Mon 04/20/2026 11:28:22 PM EST) or Wrist MLS (last updated Mon 04/20/2026 11:24:17 PM EST) or Firelands MLS (last updated Mon 04/20/2026 11:11:24 PM EST) or LCAR MLS (last updated Mon 04/20/2026 10:51:10 AM EST) or West Central MLS (last updated Mon 04/20/2026 9:50:56 PM EST) or Fort Myers (last updated Mon 04/20/2026 11:04:35 PM EST) or Aspen/Glenwood Springs MLS (last updated Mon 04/20/2026 9:30:45 PM EST) or Northern Nevada Regional MLS (last updated Tue 04/21/2026 12:26:43 AM EST) or MLS NOW (last updated Tue 04/21/2026 12:17:27 AM EST) or Northern Great Lakes Association of Realtors (last updated Tue 04/21/2026 12:19:11 AM EST) or Mansfield MLS (last updated Mon 04/20/2026 11:47:14 PM EST) or Metropolitan Indianapolis Board of Realtors (last updated Tue 04/21/2026 12:21:19 AM EST) or Grand Junction MLS (last updated Mon 04/20/2026 11:37:09 PM EST) or Knox County MLS (last updated Mon 04/20/2026 11:08:11 PM EST) or IRMLS (last updated Mon 04/20/2026 11:12:01 PM EST) or Pueblo MLS (last updated Mon 04/20/2026 11:43:57 PM EST) or Upper Peninsula MLS (last updated Mon 04/20/2026 11:10:09 PM EST) or Greater Lansing MLS (last updated Mon 04/20/2026 10:35:39 PM EST) or SEBAR MLS (last updated Mon 04/20/2026 11:39:18 PM EST) or Water Wonderland MLS (last updated Mon 04/20/2026 10:52:31 PM EST) or Eastern Upper Peninsula MLS (last updated Mon 04/20/2026 11:59:08 PM EST) or Scioto Valley MLS (last updated Mon 04/20/2026 10:02:33 PM EST) or Northern Michigan MLS (last updated Mon 04/20/2026 9:33:48 PM EST). Real estate listings held by brokerage firms other than Key Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
Privacy Policy / DMCA Notice / ADA Accessibility

Agency License Information: 1-877-539-7589 | Ohio Lic# REC.2010002888 6800 W Central Ave #B, Toledo, OH 43617 | Michigan Lic# 6505366134 8040 Summerfield Rd, Lambertville, MI 48144 | Indiana Lic# RC52400106 3029 W Smith Valley Rd #211, Greenwood, IN 46142 | West Virginia LIC# 010306 Erin Rickman, Broker. 410 Market St #3, Parkersburg, WV, 26101 | Colorado LIC# EC.100108419 603 Rood Ave, Grand Junction, CO 81501 | Nevada LIC# B.0146350.LLC 9190 Double Diamond Pwky, Reno, NV 89521 | Florida LIC# CQ1073507 16638 Mooner Plank Cir, Wimauma, FL 33598



Agent License Information:  Brokerage/Company License Number: REC.2010002888

Login to My Homefinder

Pixel