ORLANDO, Fla., Nov. 6, 2016 /PRNewswire/ -- A panel composed of five members of the generation following millennials, Generation Z, young people ages 14 to 18, discussed their social media habits, shopping preferences and their desire to become homeowners, during a session titled "The Gen Z Consumer" at the 2016 REALTORS® Conference & Expo.
"We are here today to talk about the future of real estate. We know enough about millennials, now we need to learn about the next generation," said Sherry Chris, president and CEO of Better Homes and Gardens Real Estate. "Generation Z are the teenagers of today that will shape - and are already starting to - the way we live, the way we function and the way we do business." According to Better Homes and Gardens Real Estate, 97 percent of Generation Z believe that they will own a home in the future, and 82 percent indicate that homeownership is the most important factor in achieving the American Dream. "That might sound a little traditional, especially when compared to what we've seen with millennials, but this is a generation that values homeownership," said Chris. All five of the panelists expressed a desire to own a home and are certain that homeownership will be part of their future. When asked about their ideal homes, the panelists varied in wanting to live in either rural or suburban areas and in a home with traditional or modern décor. All the panelists expressed a desire for a large amount of square footage. "I want a big house," said panelist Cayman, 17. "I want a room for each of my kids, a master bedroom, a few guest rooms, a movie room - I want a lot of space."