Millennials don’t trust lenders or the housing market

One of the most defining characteristics of the Millennial generation’s experience with the financial and housing ecosystems is that of fear.
As a result, they have developed a pervasive mistrust of banks, lenders, and the housing market overall. In one study by Even Financial, 92% of millennials stated that banks could not be trusted, and over half said they didn’t have anyone to turn to for financial advice. 
In a recent home buying event in Los Angeles, attendees consistently shared their fears and insecurities about the topic. 
“It’s scary,” said Reina, a 31-year-old homebuyer. “I think in the past there hasn’t been a lot of transparency about the process, and there’s just so many steps that are really intimidating.”
There’s a generational gap in how we think about homeownership and the American Dream.
Access to homeownership for this generation isn’t just about credit. It’s about access to trustworthy advice, transparent information, and personalization. 

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