• Entertainment
  • Finance
  • Marketing
  • Real Estate
  • Technology
  • Social
National Journal Community Of e-Experts
Finance 0

Will The Next Recession Make This Worse?

By Kurt Osterberg · On April 13, 2018

Even though the economic expansion has been going on for 9 years, we’re still discussing the economic problems millennials are facing. The biggest reason for this is because student loan debt doesn’t go away with improvements in the economy. It’s disconcerting to see millennials doing poorly in an economic expansion because they will be hurt even more in the next recession. The people with the least savings cushion and earnings are hurt the most by recessions.

The table below gives a great breakdown of millennials compared to generation X. As you can see, young adults in 2000 had a 54% marriage rate and 52% of them had children. Young adults in 2016 had a marriage rate of 41% and 42% had children. Millennials living with their parents certainly doesn’t encourage family formation. Many more young adults don’t have the means to get married and have kids.

Young Adults In 2000 Compared To 2016

Another reason is millennials are trying to develop their careers before rearing children. This is especially true for women. Women need to get into the workforce to help the family survive. Because more women are working, marriage is no longer about financial stability for women. It makes sense that the ability to choose a mate without financial pressure makes women delay this decision or not make it at all. Many of the trends millennials are faced with are often exclusively thought of as negative, but marriage by choice instead of by implicit financial force is great for overall happiness. It’s wrong to have tunnel vision when it comes to life and only try to check the boxes (marriage, kids, etc.) instead of thinking about your options. Often financial analysis ignores this happiness quotient.

The next part of the table shows the cost of moving out for each of the past two generations. As you can see, it’s more expensive to live in central city as the median home price has risen from $210,000 to $270,000. We’ll be going into greater depth on this issue since housing affordability is the most important factor preventing millennials from moving out, but here is a few previous discussions on the topic – US Housing Is Becoming Unaffordable and Housing: There’s Good News & Bad News.

Print Friendly, PDF & Email

Share Tweet

Kurt Osterberg

You Might Also Like

  • Finance

    Your Competitors are Gaining Market Share – How About You?

  • Finance

    How to Keep New Website Visitors Engaged with Your Brand

  • Finance

    Do You Need a Full Time Scrum Master for Scrum?

No Comments

Leave a reply Cancel reply

Top Finance

  • Chart: Amazon’s Dominance In Ecommerce Chart: Amazon’s Dominance In Ecommerce
  • Hedge Funds In The US Hedge Funds In The US
  • 3 Best Large-Cap Blend Mutual Funds For Enticing Returns 3 Best Large-Cap Blend Mutual Funds For Enticing Returns
  • Kanban vs Scrum: Understanding the Tools for Agile Success Kanban vs Scrum: Understanding the Tools for Agile Success
  • 5 Ridiculously Useful Non-Monetary Reward Examples that Improve Employee Engagement 5 Ridiculously Useful Non-Monetary Reward Examples that Improve Employee Engagement

New Posts

  • Your Competitors are Gaining Market Share – How About You?

    Your Competitors are Gaining Market Share – How About You?

    April 20, 2021
  • How to Keep New Website Visitors Engaged with Your Brand

    How to Keep New Website Visitors Engaged with Your Brand

    April 20, 2021
  • Do You Need a Full Time Scrum Master for Scrum?

    Do You Need a Full Time Scrum Master for Scrum?

    April 20, 2021
  • How to Create a Comprehensive B2B Product Launch Timeline

    How to Create a Comprehensive B2B Product Launch Timeline

    April 20, 2021
  • Why Workplace Humour is the Secret to Great Leadership

    Why Workplace Humour is the Secret to Great Leadership

    April 20, 2021
  • About
  • Contact Us
  • Privacy & Policy
  • Sitemap
  • Terms of use

Copyright © 2018-2021 NJCEE. All Rights Reserved.