Author: Tim Lemke / Source: Wise Bread
Millennials get blamed for a lot of things. Often, they’re accused of being spendthrift and irresponsible. Critics assume that Millennials are unable or unwilling to save money or invest smartly.
Much of this criticism is unfair. In fact, if you look at what Millennials have accomplished with their finances, they have a lot to be proud of.
1. More than one in three Millennials own a home
Pew Research Center reports that about 35 percent of Millennials now own homes. That’s still lower than the national average overall, but many experts say that an increase in Millennial homeownership in recent years has helped boost the overall rate of ownership to its first increase since before the Great Recession. Given the headwinds facing Millennials (high housing costs, student loan debt, stagnant wages), a homeownership rate of more than one-third is nothing to sneeze at. (See also: 10 Reasons to Cut Millennials Some Slack About Their Money)
2. Millennial homeowners have good credit
Research from Ellie Mae, a platform provider for the mortgage finance industry, showed that mortgages to Millennials weren’t going to people with terrible credit. In fact, the average FICO score among Millennial borrowers in 2017…
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