A third of Gen Z and millennial homebuyers plan to use family money for a down payment amid sky-high housing costs

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Homebuyers have to earn 80% more than they did pre-covid to comfortably afford a house today.
Homebuyers have to earn 80% more than they did pre-covid to comfortably afford a house today.

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Younger Americans are falling behind on credit card and car payments, New York Fed says

Tech Insider : Economy, Economy
  • Total consumer debt swelled to $17.5 trillion in Q4, a $212 billion jump from the previous quarter.
  • Delinquencies are rising among younger borrowers in particular, the New York Fed said. 
  • Younger borrowers have surpassed pre-pandemic levels of credit card delinquencies. 

Younger Americans are falling behind on paying credit card and auto loans, with the rate of late payments rising above pre-pandemic levels in the last quarter, the New York Federal Reserve said in a report. 

New England is a haven for workers straight out of college, with a study finding Massachusetts, Rhode Island, and New Hampshire are the best states to move right after graduating

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Graduates of Harvard University
Students take part in the 372nd Commencement at Harvard University on 25 May.

Craig F. Walker/The Boston Globe via Getty Images

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