- Oct 16 2019
Student debt has grown to double the size of the U.S. housing market, making it clear why many Millennials have delayed homeownership.
Student debt has grown to double the size of the U.S. housing market, making it clear why many Millennials have delayed homeownership. According to realtor.com data, the total value of U.S. homes on the market is $780 billion, while outstanding student debt is $1.5 trillion. In other words, the “total student debt could buy every U.S. house on the market 1.9 times over.” Student debt is one of Gen Z and Millennials’ top financial concerns, and could even sway their votes in the upcoming election. (MPA)
- Oct 16 2019
So it shouldn’t be too big of a surprise that Gen Z could spend more on rent than any previous generation.
So it shouldn’t be too big of a surprise that Gen Z could spend more on rent than any previous generation. Zillow-owned site Hotpads analyzed government data to report that renters born in 2002 “can expect” to spend $226,000 on rent in their lifetime, which is about $24,000 more than Millennials, and $77,000 more than Gen X. They also predict that the generation will rent for an average of 11 years before buying a house—though of course, “there are a lot of unknowns about how the American economy will evolve over the coming decades as Generation Z grows into adulthood.” (PR Newswire, Forbes)
- Oct 10 2019
Gen Z and Millennials are planning to pay less for their engagement rings.
Gen Z and Millennials are planning to pay less for their engagement rings. According to TD Amitrade, 15-28-year-olds believe that a ring should cost less than $2,500—which is less than half the national average. Young women across age groups say that an engagement ring should cost less than it does, helping to break the traditional expectation that the symbolic jewelry should cost three months’ salary. YPulse has found that 56% of Millennials believe there are no rules to determine the budget for an engagement ring, and over a third say that big expensive rings are out of style. (CNBC)
- Sep 25 2019
Two in five Millennials have attended or will attend a wedding in 2019—and these are the 21 things they’re most likely to see there, as the new Millennial wedding traditions…
- Sep 10 2019
Many young consumers are worried they’ll never reach their financial goals—and these are their biggest economic worries right now…
- Jul 30 2019
Three in ten Millennials say their lack of financial stability is part of the reason they’re still single.
Three in ten Millennials say their lack of financial stability is part of the reason they’re still single. The debt-ridden generation has been held back from many major life milestones by their bank accounts, and Match.com’s latest survey suggests they’re delaying romantic relationships too. In fact, Match.com found that 21% of those born between 1981 and 1996 believe they need to attain a certain income before even trying to be in a relationship, compared to 14% of overall singles. (USA Today)
- Jul 19 2019
Parents that want grandbabies are funding their debt-ridden Millennial children’s IVF.
Parents that want grandbabies are funding their debt-ridden Millennial children’s IVF.While Millennials are often shamed for waiting longer to have kids, financial security caused by student debt and other financial stressors are making them wait—and those that need fertility services are set back even further. Startups are cropping up to cater to this need and offer flexible payment options. Future Family offers the “Grandbaby Plan,” a loan that hopeful grandparents can take out on their children’s behalf. (Fast Company)