Michael Hobbes on how millennials—those born between 1982 and 2004—have become the canary in the coal mine for the languishing economy in the United States.
A few statistics:
- We've taken on at least 300% more student debt than our parents
- We are about half as likely to own a home as young adults were in 1975
- 1 in five of us is living in poverty
- Based on current trends, many of us won't be able to retire until we're 75
- "My father’s first house cost him 20 months of his salary. My first house will cost more than 10 years of mine."
Lot's to chew on here. Not be be an old here, but it's best to read this on a larger screen.