Deutsche Bank Economist Torsten Sløk says that millennials — now aged 20 to 35 — actually have less debt than the same-aged population did in 2003 (who are now aged 33 to 48).
“It is an urban myth that the young generation today is more indebted, it is the older generations that have higher debt levels. The reason is that since 2009 it has been difficult for Millennials to get a loan. As a result, 25 to 35 year olds today have less debt than in 2003.”
This dispels another myth about the millennial market.
Read the full article on Business Insider.
Dave Eckstein is a Partner in the firm ESA & Company. He specializes in highly profitable market share growth for local businesses and gets a kick out of demonstrating a declining cost of customer acquisition. He plays baseball, but isn't that Dave Eckstein.