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Millennials are considered “the roommate generation” thanks to the high cost of living. 

Jan 11 2023

Millennials are considered “the roommate generation” thanks to the high cost of living. With more Millennials living with their parents or renting apartments with friends even as they age up, Redfin CEO Glenn Kelman is referring to them as “the roommate generation.” Citing data from the Federal Reserve Bank of St. Louis, Kelmen recently pointed out that “rent increases continue to outpace wage growth, even as the US rental vacancy rate increased.” This is making it extremely difficult for Millennials to save up for a down payment on a home. YPulse research shows that saving money is Gen Z and Millennials top financial goal and buying a house is in Millennials’ top five goals. (Business Insider)