Manage episode 184774839 series 1204954
http://NewClassRising.com/141 - Millennials today are leading the way in Home Equity Lines of Credit. According to TD Bank, millennials are tapping into home equity line of credit 2 times faster than Gen X'ers and more than 9 times as fast as baby boomers.
The reason, "experts" claim" - millennials just want to upgrade their crumbling homes. How is this possible when millennial student loan debt, credit card debt, and car loan debt is at all time record highs?
It looks to me more like millennials are strapped for cash and are instead opting to boring on the cheap to pay of more expensive, higher-interest debt.