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MPR News

Millennials aren't bucking tradition; they're more cautious with money

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When the housing market numbers came out last month, many analysts noted signs that buying, selling and building appeared to have leveled off —  and may have even declined a bit over the last year.

According to Realtor.com, the Minneapolis-St. Paul inventory was down and the median housing price was the same as in February 2018. Prices have been dropping significantly in places like Dallas, Atlanta and Austin, as well.

This is partly due to a slowing economy and modest wage growth. But young people also are entering their homebuying years more cautiously than their predecessors.

What does it mean that millennials — people in their early 20s to late 30s — are entering adulthood with what the Federal Reserve called  "lower earnings, fewer assets and less wealth"?

MPR News host Kerri Miller spoke with two millennial financial experts, Jarim Person-Lynn and Bola Sokunbi

Guests:

Jarim Person Lynn, founder of Brass Knuckle Finance and author of an upcoming book: "Trap House — How to Buy a Home Without Getting Trapped" 

Bola Sokunbi, money expert and founding CEO of Clever Girl Finance

To listen to the full conversation you can use the audio player above.