Debt is Increasing for 50- to 80-Year-Olds, Decreasing for those Under Age 39
The debt of 50- to 80-year-olds has increased by 59% since 2003—and has dropped by 12% for those under age 39. While the report blames Millennials’ muted borrowing habits on the housing crisis, the reality is that this generation just doesn’t want to add the financial risk of homeownership on top of their massive student loans.