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V O L . X X X N O. X V I J U LY 2 2 , 2 0 2 4 18 R E A L E S TAT E / C O N S T R U C T I O N / E N G I N E E R I N G spending power by 2030, according to a June report by NielsenIQ and World Data Lab. e report also shows that the average American 25-year-old Gen Zer has an annual household income of over $40,000, rendering them bet- ter off than millennials were in early adulthood, and placing their net income at more than 50% above what Baby Boomers earned at 25. One takeaway, per World Data Lab CEO Wolfgang Fengler: "Gen Z is the largest, the richest and the most global generation ever. Businesses need to know that Gen Z is 2 billion people strong, and meeting their needs is a must." ose businesses include real estate brokerages and banks working with young homebuyers. While Generation Zers own a smaller proportion of homes than their elders, most are tracking ahead of where their parents were at the same age, as documented in a January report by online brokerage Redfin. Close to 28% of today's 24-year-olds own homes, compared with 25% for mil- lennials and 24% of Gen Xers when they were the same age. Researchers attribute the difference to the fact that many Gen ยป C O N T I N U E D F RO M P R E V I O U S PA G E When you engage our creative engineering collective, you'll immediately value how our innovation, collaboration, and expertise create solutions for your success. BRING US YOUR VISION Oces throughout Southern, Western, and Midcoast, Maine Portland Harbor Common Lot Carly Chasse, an associate broker at Portside Real Estate Group, is also a homeowner who has bought several investment properties. P H O T O / T I M G R E E N WAY F O C U S