Millennials Rising Debt But Declining Homeownership
Rather than wealth, Millennials are accumulating debt. Not only does the typical millennial have higher debt relative to both their income and their assets than any other previous generation at the same age, but their debt profile is distinct. In previous generations, starting families and forming households was associated with buying homes and taking out a mortgage. For millennials, other forms of debt have replaced mortgage debt, including student loans, car loans, and credit card […]
