The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going ‘back to the early 1900s’

Millennials were supposed to be one generation with one story — priced out, saddled with debt, perpetually behind. Jessica Lautz, has been tracking this story for years, even commissioning an annual “generational trends” report from her perch as deputy chief economist at the National Association of Realtors. When the report was released in April, she told Fortune that we’re at the point where it’s a structural issue: older millennials are now living a boomer-style existence where they can expect to own their own homes, while their younger counterparts aren’t so lucky. Recommended Video But Lautz didn’t know that housing affordability experts at the Federal Reserve Bank of Minneapolis was working on the same issue.

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