Analyst Natalia Siniavskaia points to the lack of income growth for this age group, showing virtually no income growth in this sector since 2006, while the median income grew nearly eleven percent for older groups, as MHProNews has learned.
The income gap widened further between those Millennials who do own their own homes, and those still living with relatives. Young adults who do own their homes saw their income increase from $26,200 in 2000, to $31,200 in 2006 and $35,000 in 2014.
Meanwhile, those living with relatives earn considerably less than their peers, partly because they are twice as likely to be unemployed. Of significance, not only has this group experienced no growth in median personal income since 2000, but their median income is lower than it was 14 years ago. It has dropped $1,000. from $16,000 in 2000 to $15,000 in 2014. ##
Graphic credit: builderonline/NAHB)
