Sad reading this Inc. essay about how millennials prioritize being debt-free over love and career.
Millennials, more than any other generation so far, report that their debt disrupts their daily life, leading to things like such as "relationship tension, misleading family and friends about their financial situation, worrying at bedtime, and stressing about everyday financial decisions."
When long term goals appear completely unattainable, it would be natural to focus on smaller things here and now. Giving up the avocado toast for good is not going to turn into a down-payment for a house. So there is a strong argument to do things that help improve the quality of the moment. When successive generations defer solving their problems to another day, at some point those problems start to hurt like a long untreated ailment now bloomed into a terminal disease
..the average cost of a house in the U.S. hasn't doubled, tripled, or even quadrupled. It is 5x as much to purchase a home now (remember--these numbers are adjusted for inflation). This is perhaps why in 1981, the average homebuyer was 25-34 years old. Now the typical homebuyer is 44.
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