Nearly seven in 10 millennials, or 69% of those ages 18 to 34, say they have it harder than previous generations in securing a middle-class lifestyle. But the story doesn’t stop at younger Americans feeling they have it harder than older generations. Seventy-seven percent of seniors say that young people today have a harder time achieving a secure middle-class lifestyle compared with their counterparts 20 or 30 years ago. The share of seniors with this view is striking, particularly given that many of them have lived through the Great Depression, World War II, Stagflation, the stock market crash of 1987, and, most recently, the Great Recession.
More than seven in 10 Americans also believe that millennials have it harder when it comes to saving for retirement (81%); owning a home (76%); having a stable, decent-paying job (71%); and having stable, affordable housing (71%).
These are some of the findings from a recent Hart Research survey conducted for the John D. and Catherine T. MacArthur Foundation’s How Housing Matters Initiative. It also found that millennials are concerned about their housing situation and that many have had personal experience with housing distress. This has caused them to re-assess the feasibility of homeownership, with many millennial homeowners considering whether to rent in the future.
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Are Homeownership and the Middle Class Out of Reach for Millennials?
Nearly seven in 10 millennials, or 69% of those ages 18 to 34, say they have it harder than previous generations in securing a middle-class lifestyle. But the story doesn’t stop at younger Americans feeling they have it harder than older generations. Seventy-seven percent of seniors say that young people today have a harder time achieving a secure middle-class lifestyle compared with their counterparts 20 or 30 years ago. The share of seniors with this view is striking, particularly given that many of them have lived through the Great Depression, World War II, Stagflation, the stock market crash of 1987, and, most recently, the Great Recession.
More than seven in 10 Americans also believe that millennials have it harder when it comes to saving for retirement (81%); owning a home (76%); having a stable, decent-paying job (71%); and having stable, affordable housing (71%).
These are some of the findings from a recent Hart Research survey conducted for the John D. and Catherine T. MacArthur Foundation’s How Housing Matters Initiative. It also found that millennials are concerned about their housing situation and that many have had personal experience with housing distress. This has caused them to re-assess the feasibility of homeownership, with many millennial homeowners considering whether to rent in the future.
Read it all.