In many ways, Gen Zers are better off than their parents were 30 years ago, but fewer are financially independent - here’s why

This article explores the financial circumstances of Generation Z (those born between 1996 and 2012) compared to their parents. Despite achieving higher levels of education and earning more, Gen Z adults are less likely to own a home, be married, or have children. The delay in reaching these milestones can be attributed to several factors.

The first factor is the burden of student loan debt. Although Gen Z is more likely to have a college degree and higher wages than their parents did, they also have higher levels of student loan debt. This debt prevents many from making significant life decisions, such as buying a home or getting married.

The second factor contributing to the delay in milestones is the housing affordability crisis. Rising inflation, rent, and housing prices have made it difficult for young adults to afford their own space. As a result, a significant percentage of Gen Z live with their parents because they cannot afford to buy or rent a home.

What’s going on here?

This article discusses the financial circumstances of Gen Z and highlights the disparity between their achievements and their ability to attain certain life milestones. It examines the reasons behind the delay in owning a home, getting married, and having children.

What does this mean?

This means that despite the advantages and progress made by Gen Z in terms of education and income, they face significant financial challenges that impede their ability to achieve traditional milestones. These challenges include high levels of student loan debt and the housing affordability crisis.

Why should I care?

You should care about this because it sheds light on the financial struggles faced by Gen Z. Understanding the factors that prevent them from achieving financial independence and reaching milestones can help inform conversations and policies aimed at supporting this generation. Additionally, it provides insights into the broader issues of student loan debt and housing affordability that affect society as a whole.

For more information, check out the original article here.