Understanding Generational Financial Challenges

What percentage less purchasing power do younger generations have compared to Baby Boomers?

• 66%

• 86%

• 76%

• 96%

In 2022, how many years of wages would it take for a Millennial to buy a median-priced home outright?

• 4.11 years

• 7.11 years

• 6.11 years

• 5.11 years

What was the home to price income ratio for Baby Boomers in 1988?

• 3

• 5

• 4

• 6

Which country has seen home price to income ratios consistently over seven for the past decade?

• United States

• Canada

• Australia

• United Kingdom

Since 1970, how have home prices compared to inflation?

• Inflation has outpaced home prices

• They have increased at the same rate

• Home prices have outpaced inflation

• Home prices have decreased

What is one reason why Boomers faced less competition in the housing market?

• Less housing demand

• Higher population growth

• Lower population growth

• More housing supply

What percentage of Millennials live with their own families according to the Pew Research Center?

• 75%

• 45%

• 55%

• 65%

What is the recommended percentage of gross income to spend on rent?

• 30%

• 25%

• 35%

• 20%

What is the maximum recommended percentage of gross income to spend on car payments?

• 5%

• 10%

• 20%

• 15%

What is one strategy suggested for increasing income?

• Switching jobs

• Staying at the same job

• Reducing work hours

• Avoiding promotions