Posted 12/4/2023, 6:07:29 PM
Older Millennials Bear Brunt of Financial Struggles Compared to Younger Peers
- Older millennials (ages 35-45) facing bigger financial burdens than younger millennials, partly due to high student debt
- Older millennials disproportionately affected by housing unaffordability crisis compared to other generations
- Mortgage rates have more than doubled from pandemic lows, making homebuying harder especially for cash-strapped millennials
- Older millennials were hit harder by 2008 housing crisis, affecting their wealth accumulation
- Childcare costs and other expenses higher for older millennials, making it harder to save for down payment