Struggling Millennial homeowner: I didn't need my degree

With higher costs of living and mounting student loans, many Millennials are struggling in this "good" economy. CNN's Alisyn Camerota sat down with two Millennial families who say they're reconsidering what the "American Dream" means.

Produced by Deborah Brunswick, Matthew Friedman, and John General
Supervising Producer: Logan Whiteside

#cnn #news #economy

[HodgeChris]

The current market/economy is unnecessarily tougher for boomers/senior citizens, I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.

[trojoe]

Leave it to corporate media to interview people "struggling" in the four bedroom three bath house they were able to buy.

[andbeyondd]

I sold an apartment in Springfield and made about $250K. I was frustrated when I only earned $171 in interest from a regular savings account. After doing some research, I was advised to invest in stocks. Are these stocks a good point to start from?

[micheal_mills]

For boomers and senior citizens, the current market and economy are unnecessarily harder. I'm used to simply purchasing and holding assets, which doesn't seem applicable to the current volatile market, and inflation is catching up with my portfolio. My biggest concern is whether I'll survive after retirement.

[Aunny]

3400 per month mortgage. They bought too much house and weren’t ready. On top of that, they had a lot of debt to begin with. Gotta be smart about financial decisions.

[lindakenison]

For me, my BS in chemical engineering allowed me to move from lower middle class to upper middle class. College degrees can make a big difference if you select the right major.

[stanngsrock]

$3400 mortgage payment? There has to be some accountability.

[reallyseriously]

$540 a month for HOA dude are you insane? You might as well burn that money every month. You are getting NOTHING for it.

[darlingcorinne]

Why did they buy such a giant house? I don’t get it. The size of their dining room table is absurd. A family of 3 or 4 doesn’t need all that space. They did this to themselves.

[tattoogoddess]

So researching their house they got it in 4/2022 so right in the height of insane mortgage rates, the house was listed for $499, 000 and they purchased it for $553, 000. So they offered $54, 000 over asking price with a insane interest rate. It’s a 4 bedroom 3 bath 2, 205 sq foot house with a semi finished basement, big deck with a hot tub. They really needed all this house for 2 people at the time and to offer 54k over asking…. They put them selves in this position 100%!

[letzsnuggzz]

My mom has this saying. "Don't be house poor" Which unfortunately that couple is. Living just to pay off their mortgage, daycare and other monthly costs. We live in a society where wages have not kept pace with cost of living. Until that changes (probably never), you truly have live within your means and stop chasing these ideals of what we are supposed to have at a certain age.

[bqnceqz]

This interview video is not about homelessness it's about higher middle class people not affording that Hawaii vacation .

[philmaynes]

I'm confused: how do people who have kitchen islands, shiny new stainless steel appliances, ceiling cannon lighting... plead/see themselves as less than middle class???

[stephenhawkingsfootballboo]

The only reason that couple felt like they were lower middle class is that they're trying to live like the upper middle class.

[andrelockridge]

As a Late baby boomer. The one mistake people of my generation made was over pushing college on to our kids. I think there is a sort of degree inflation. There are also degrees not worth going deep in debt for. You have look at ROI in which field you plant to study.

[viethuynh]

I got an AA in business administration. Lifted me out of poverty once I graduated.

[charlielopez]

Perfect example of what is called, living beyond your means.

[darlingcorinne]

Would have been interesting to see they film an actually struggling family. There are plenty of them out there.

[JSLReview]

Based on their income why on earth did they take on a $3400 monthly mortgage??

[libertarian]

A BA in history from State U. didn't lead to wealth? Shocking, just shocking!