Despite the difficulties they faced entering the job market during the worst recession in decades, millennials have found their way into the workplace, even teaching older generations a thing or two about new ways to work along the way. But, financially, it's been a rough decade or so for the youngest generation of workers.
The Great Recession had an impact on every age group, but there is no doubt that it caused specific challenges for the youngest generation in the workforce, the millennials. After graduating with the highest student loan debt in history, millennials (born between 1980 and 1995) entered the labor market during a time of economic crisis.
Buying a new home is exciting, but it can be difficult to determine how much you can afford to spend, or, whether or not you can afford to buy at all. Through analyzing how much it would cost to pay a median-priced home's mortgage principal, taxes, and insurance, the mortgage website HSH.com has determined how much a family would have to earn to afford to buy a home in many major US cities.
In recent months, there have been many indications that the economy has recovered from the recent recession, as over 300,000 jobs were added in November and unemployment is at its lowest in nearly a decade. But are these jobs allowing Americans to live well?