A Millennial entrepreneur can’t get a mortgage, despite raising more than $1.5M for his businesses. Chace Barber owns two small businesses, one with 11 full-time employees, yet is still struggling to receive a mortgage from the bank and has to live with his parents as a result. In a Fortune interview, he says “They [the bank] look at me and my business partner, who also still can’t buy a house, and say, ‘oh, sorry, you’re a little bit too risky.’” This Millennial has suffered from the state of today’s post-pandemic economy with houses and mortgage rates skyrocketing, making it nearly impossible to move out of his parents’ house. YPulse research shows that the effects of the pandemic have caused financial stress on Millennials, and with buying a house / apartment ranking one of their top financial priorities, the post-pandemic economy is holding many young home seekers back. (Yahoo Finance)
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