Millennials who are saddled with debt such as costly mortgages might well bear the brunt of higher interest rates in the months to come, a new RBC report argues.

Older millennials, adults aged 35 to 44, had debt-to-disposable income ratios around 250 per cent in 2019, while Freestone noted that metric was roughly 150 per cent for the same age group in 1999.

Can confirm we’re sitting around 250% but this is after exercising significant restraint to not take on as much mortgage as the banks would have given us. Everyone I know who bought over the last couple of years went all out and I can’t imagine them being any lower than 300-350%.

  • cygnus@lemmy.ca
    316·
    1 year ago

    I started typing a reply to this but I don’t even know where to begin. Good luck in your future endeavours.

    • Lutefisky@sh.itjust.works
      111·
      1 year ago

      There is nowhere to begin. I agree with your point. Fundamentally, business should be able to make those decisions about who it employs and who it doesn’t.

      But maybe, and hear me out here, they shouldn’t be telling us how fucked we are while they are fucking us - the consumer, the taxpayer and a portion of their own employees.

      Good luck with yours too.