Posted 1/19/2024, 12:52:44 PM
Burdened By Debt and High Costs, Millennials Warn Against Following Their Economic Path
- Millennials feel trapped by debt from college and buying a home, and won't encourage their kids to take the same path
- High inflation, housing prices, and debt are causing widespread economic anxiety, even though official recession was avoided
- Millennials suffered from entering job market during Great Recession and have struggled to accumulate wealth
- Pandemic housing boom priced many Millennials out; they feel stuck with high mortgages and rents
- Wage growth hasn't kept up with high costs of essentials like childcare, further straining Millennial budgets