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%.

  • Vlyn@lemmy.zipEnglish
    2·
    10 months ago

    I’m from Austria, we don’t have that issue in Europe. But people here (luckily) are a lot less into monster SUVs. If I see even one of those taking up the entire lane or blocking my sight at an intersection I’m getting annoyed.

    Going to the Kia website I can actually view cars in stock in the entire country. So I could immediately pick a Kia Picanto (that’s the cheapest one) up for €15,840. Or a Kia Rio for €17,440. Though I just saw on the Kia page, they discontinued the Rio (No more new cars coming).