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Gen Z Is Taking Full Advantage of Falling Rents Due to COVID
Despite lingering unemployment, high student debt, and lots of pressure, Gen Z is finally grasping for freedom. The median concession rate nationwide grew from 16% in January to 34% in October—an 18% increase in 10 months. However, despite the deeper cut in rental price and incentives, 59% of Gen Z renters report spending more money per month on their new homes. Gen Z renters are looking for the most bang for their buck. With this data and more of Gen Z entering the market, simply adding a 3D tour to a home can make all the difference.
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