“There is evidence that the youth of today blame the generations before them for the challenges that they and the planet face today,” said Mike Pickett, director of London-based Cazenove Capital, in the report.
The property broker added that housing will continue to be a focus of spending for the next generation, as those born between 1981 and 1996 may have struggled to get on the housing ladder thus far. Even at the highest end of the income ladder, growing a property portfolio is a key concern among those born between 1981 and 1996.
The study shows 23% of female ultra-high-net-worth individuals (UHNWI, valued at $30 million or above) are considering buying a home in 2024, with 21% of male UHNWI expecting to make a similar purchase this year. Wealthy Gen Zers feel the same, with 20% of those born from the mid-1990s to the early 2000s planning an acquisition.
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