Who made housing unaffordable? Survey says…

Nearly 75% of Americans say homeownership is now out of reach for the average person but when it comes to who's responsible, opinions are deeply divided along generational lines.

According to a new survey by Clever Real Estate, millennials were most often blamed for the housing crisis (31%), followed closely by baby boomers (27%).

Those two generational buckets put the blame on each other; 35% of millennials selected boomers as the cause, with just 21% picking their own generation.

At the same time 33% of baby boomers cited millennials, with 25% picking their own demographic.

"Altogether, it's discouraging evidence that different generations can't even agree on how we got into the current housing trouble, much less the proper solutions," the report blog from Nick Pisano, a data writer at Clever, said.

Which generation is to blame for the housing crisis?

When it comes to the actual causes for the lack of affordable houses, more than 85% of boomers, Gen Xers and millennials cited three reasons: inflation, high interest rates and high property taxes.

But 83% of boomers said supply and demand factors are responsible, compared with 74% of Gen X and 68% of millennials.

State governments got the largest share of blame from millennials, at 70%, versus 57% of baby boomers.

Surprisingly, 30% of all respondents pointed to millennials as the main culprits behind the housing inventory shortage, compared to just 24% who blamed baby boomers.

This runs counter to the common narrative that baby boomers aging in place are a major factor limiting available housing. Still, the generational finger-pointing continues, with each group largely holding the other responsible.

The survey respondents largely felt Gen Z is the most entitled demographic when it comes to their homeownership expectations, at 31%, with baby boomers next at 28%.

"This goes hand in hand with the 57% of respondents who say Gen Z is the most unrealistic about what they deserve in a home," the report said.

The survey asked participants to rank life milestones by importance from most to least, and owning a home topped the list, ahead of a job they like, a comfortable retirement and at No. 4, being married or having a life partner.

Are couples asking for down payment help instead of wedding gifts?

Homeownership's importance as milestone plays into the results of a separate survey from LendingTree of homeowners who were married in the past two years.

Nearly half of the respondents, 48%, requested wedding invitees gift them money to help for a down payment rather than a physical item. Among those newlywed homeowners, 71% said they received help from their parents for the down payment and/or wedding expenses.

"Wedding gifts used to be dinnerware, silverware, candlesticks and other things that would sit in a box or cabinet and maybe get used once a year," said Matt Shulz, LendingTree chief consumer finance analyst, in the report. "Now, there's less stigma in asking for money toward a down payment or a honeymoon."

This is good for both the newlyweds and for those giving the gift because as they know their gifts won't become dust collectors, he added.

Does getting married delay buying a home?

The wedding delayed the home purchase plans of 35% of respondents to the LendingTree survey, while the cost meant putting less money down than planned for 36% of those surveyed.

Thirty-eight percent of millennials said getting married delayed their home buying activity, while it was true for 37% of Gen Z and 32% of Gen X.

On the other hand, 52% of all respondents said they downsized their wedding so they could buy a bigger home. For just under six-in-10, they put more money down than they spent on their wedding.

When it came to what caused the most stress on their relationship, the results were rather even: 36% said it was buying a home, 33% cited wedding planning and 31% stated both were equally nerve-wracking.

How many home buyers can afford a down payment right now?

In the Clever report, 71% of respondents admitted they could not put down any money right now on a potential home purchase.

"Ironically, it seems the best way to come up with a significant down payment is to already be a homeowner," Clever said. "Although 25% of all respondents could put down $75,000 or more for a purchase, this includes just 7% of boomer renters, 6% of Gen X renters, and essentially no millennials renters at all (0%). "

What down payment assistance programs are available in 2025?

For those looking for down payment help, the number of homebuyer assistance programs increased by 43 during the first quarter and by 55 over March 31, 2024.

The total number of programs now available is 2,509, the Down Payment Resource Q1 2025 Homeownership Program Index reported.

A recipient does not have to be a first-time buyer in 952 of the programs, while 240 do not have income restrictions.

"Rates are still high and prices keep climbing, but we're seeing expanded program offerings, new providers and greater flexibility in how funds are used — not just for down payments but also to cover closing costs, lower the rate or meet other buyer needs," said Rob Chrane, CEO of Down Payment Resource, in a press release. "More programs now include manufactured and multi-family homes, opening new paths to affordability and steady income."

Do millennials feel discriminated against by lenders?

Almost six-in-10 millennial respondents to the Clever survey said mortgage lenders have more respect for older generations. Just 43% of baby boomers and 42% of Gen X agreed with that statement.

When asked if older generations get better rates and/or service from their mortgage originator, 47% of millennials agreed, versus 36% of Gen Xers and 31% of boomers.

The gap also exists on the sales side, with 42% of millennials believing the real estate agent prioritizes older clients, compared with 30% of Gen X and 24% of baby boomers.

When it comes to feeling discriminated against, 30% of millennials said it was true, versus 20% of Gen X and 10% of boomers.