, entering adulthood looks a lot different for Millennials and members of Gen Z than it did for their parents and grandparents.
Fifty-six percent of young adults ages 18 to 24 lived with their parents in 2023, according to the latest Census data. To put that in historical context, toward the end of the Great Depression in 1940, 48% of adults ages 18-29 lived with their parents.“Gen Zers say that they’re most likely to delay buying a car because of their student debt.
About one in five in both generations, Gen Z and Millennials said that they had delayed getting married and or having kids because of student debt. We know that this is a big deal that’s affecting many aspects of people’s lives.are frequently cited by young adults as a reason for delaying marriage: More than half of unmarried Millennials in a Credit Karmalast year said they don't want to get married until their finances are in order.
“Inflation has been an issue not just the past couple years. I mean, it’s gotten a lot of headlines the past couple years, but really if we go back decades, certain costs have risen much faster than wages for decades now. I’m thinking of things like higher education very notably," Rossman said. “Buying a house, you know, home prices have gone up way more than the overall rate of inflation and also way more than wage growth the past 20, 30 years.