Millennials are the most housing-obsessed generation, BofA survey shows—it's a sign the prosperity of the boomers has bypassed them

Despite its importance, homeownership is ever further out of reach, especially for older millennials (aged 35-45) who face a “bigger financial burden." (Credit: Getty Images)

The highest mortgage rates in a generation and ever-rising home prices are conspiring to lock millennials out of homeownership, but the daunting state of the housing market hasn’t hurt their determination to break in—so far.  

Indeed, a new report by the Bank of America Institute suggests that homeownership is a top concern for younger generations: Some 60% of Gen Z respondents, and nearly 60% of millennials, said they think homeownership is more important than it was during their parents’ generation. In a separate BofA survey, respondents cited owning a home as their number one signal of financial success, and fifth on the list of success overall, ahead of options like “building a family” and “career fulfillment.”