1 in 3 Gen Z and millennials are stuck in their parents’ home—now, Airbnb is swooping in with a $250 million fund for affordable rental homes

The American Dream of graduating college, landing a six-figure job, and moving into a white picket-fenced home is slipping out of reach .

More Gen Zers and millennials are stuck living with their families than ever—so now Airbnb is investing a quarter of a billion dollars to help turn the tide.

Airbnb recently announced an initial $250 million investment to help build more affordable rental homes in the U.S. and abroad.

America has a housing crisis.

Over 15 million homes are sitting empty, representing around 10% of the country’s total housing supply, according to recent U.S.

Census Bureau data.

As the housing shortage shows little sign of letting up, corporations are joining the effort to get more homes built—especially as America has struggled to build at pace with housing demand.

Airbnb CEO Brian Chesky even acknowledged the criticism that his own company has gobbled up supply for long-term residents and made cities more expensive to live in.

But instead of turning a blind eye, he hopes the $250 million investment will ease the affordability crunch.

“Airbnb has been a place people pointed to over the last 15 years, especially the last decade…for reasons why cities are expensive,” Chesky told Time in a recent interview.

“And so we have wanted to be part of the solution, not part of the problem.” The company estimates that the initiative would unlock $5 billion in capital investments over the next decade.

Altogether, the “Housing Accelerator” will accelerate capital deployment, support pro-housing policy reforms, improve construction technology, and help remove barriers to break ground and get more homes on the market.

But its first priority is helping lower-cost and mixed-income projects break ground—starting with a $6.4 million investment to support the development of over 200 affordable housing units in Austin, Texas.

It’s also launching a $5 million Airbnb housing innovation prize for companies and non-profits making it easier and cheaper to build a home.