Millennials and Gen Z are clamoring to break into the housing market—a feat seemingly impossible in an inflationary period with high home prices and mortgage rates. But one real estate veteran says owning a home might not be all it’s cracked up to be right now.
“If your whole thinking is like, ‘Oh, I should buy a home because I’m at that age, and I should buy a home,’ I don’t think that’s a good reason to own a home,” Amir Korangy, founder, chairman, and publisher of real estate news site The Real Deal, told Fortune. Korangy is also an associate professor at Columbia University’s School of Architecture and a senior fellow and adjunct professor at NYU’s Schack Institute of Real Estate.
