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How Much Debt Does Gen Z Have?
And this percentage has only risen over the past three years.
Why Does Gen Z Have So Much Debt?
In their defense, Gen Z has, in many ways, encountered the perfect storm.
Another factor is that the housing market is at near-record levels of unaffordability.
How Can Debt Interfere With Financial Goals?
The housing market has long been one of themost reliable pathsto long-term wealth.
But Gen-Zers with a high amount of debt have low credit scores.
This makes homes even more unaffordable, blocking a key way for Gen-Zers to generate long-term wealth.
But that should be an absolute last resort.
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