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69 April 2025 J O U R N A L April 2025 » Even with this growing awareness, 61% of respondents say they need a mental reset to improve their financial outlook. Among the challenges holding them back: • 48% say habits are hard to change • 43% struggle to balance short-term needs with long-term goals • 32% feel they lack financial knowl- edge • 29% support multiple dependents • 15% feel peer pressure influences spending As Americans work to navigate these challenges, many are increas- ingly turning to financial advice. The percentage of people seeking outside guidance has risen from 24% last year to 36% this year. Younger generations are even more eager to learn, with 54% of teens, 61% of Gen Z adults, and 46% of millennials actively seeking financial advice. "Younger generations are innovat- ing and leading the way in so many areas. In this case, they are leading in the desire to learn more about money and make informed financial decisions. And Americans are saying: Now is the time," Liersch said. Self-Perception and Money: Amer- icans Judge Themselves More Than Others While most Americans claim not to judge others' financial situations, many are highly self-conscious about their own money matters. The study found that 87% of Americans say they do not care how much money others have, yet 56% keep their financial situation pri- vate, with 32% citing fear of judgment. More than half (53%) said revealing their financial standing would create stress. Many also compare themselves to others, with 47% admitting to feeling envious of wealthier individuals, and 37% saying they fixate on the idea of becoming rich. "Americans appear comfortable with other people being authentic about their financial situation, which is encouraging to see. So now it's time to look inwardly and overcome our own self-judgment," Liersch said. Looking Ahead: A Shift Toward Financial Intentionality Despite financial uncertainty, 86% of Americans say they have a clear picture of their financial goals, and 87% believe now is a good time to save. While inf lation continues to impact household budgets, many consumers are actively working to reshape spend- ing habits and align financial decisions with long-term objectives. As Americans strive to be more in- tentional with their money, the coming years could see a shift in how financial success is defined—not just by wealth accumulation, but by financial stability and personal fulfillment. BLACK HOMEOWNERSHIP MAKES GAINS, BUT STILL LAGS BEHIND OTHER COHORTS A lthough homeownership rates are rising for Americans of all races, specific challenges still exist for Black Americans. Experts in real estate are stepping in to assist pur- chasers in overcoming those hurdles. According to the National Associ- ation of Realtors (NAR) 2025 Snapshot of Race and Home Buying in America, the Black homeownership rate in the Unit- ed States saw the largest year-over-year rise among racial groups in 2023, but it still lags well below the white home- ownership rate. "This report provides the housing ecosystem with in-depth information about how racial and ethnic groups approach the housing market," said Jessica Lautz, Deputy Chief Economist and VP of Research for NAR. "It helps industry professionals by providing detailed local information about chal- lenges and success." The latest real estate market intelligence study focuses on who is joining the U.S. housing market and how homeownership patterns across various racial and ethnic groups are inf luenced by affordability, financing accessibility, and demography. It looks into racial group homeownership rates in each of the 50 states and the District of Columbia. The paper also looks at home buyer demographics, reasons for buying, types of properties purchased, and financial profiles, with a particular focus on racial differences, utilizing data from NAR's 2024 Profile of Home Buyers and Sellers. Significant Racial Disparities in Homeownership Persist Across the U.S. Black homeownership rates in the Unites States are still significantly low- er compared to that of whites (72.4%; +0.1 percentage points), Asians (63.4%; +0.1 percentage points), and Hispanics (51.0%; -0.1 percentage points), even though the Black homeownership rate (44.7%; +0.6 percentage points) saw the largest annual gain of any race in 2023. The U.S. homeownership rate was higher in 2023 (65.2%) than it was 10 years prior (63.5% in 2013), with over 11.8 million more homeowners, despite persistent affordability issues. Notably, the 2022 year-over-year fall in home- ownership was reversed by the 2023 annual rise. Black Americans (+2.8 percentage points or nearly 1.2 million homeown- ers), Asian Americans (+5.6 percentage points or 1.6 million homeowners), and white Americans (+3.6 percentage points or 702,200 homeowners) all saw increases in homeownership rates, but Hispanic Americans saw the biggest increase (+5.8 percentage points or 3.5 million homeowners) of any racial group since 2013. The Black-white homeownership rate difference has increased by 28 percentage points since 2013, despite improvements.