A few weeks ago, I met my first Millennial grandparent. I was interviewing a woman in her late 30s about President Joe Biden’s new child-tax-credit proposal, and she mentioned that it would benefit not just her two young kids but her older son’s kid too.
The incidental meeting was a reminder both that Millennials are getting older and that they are doing so without growing up, at least not in the way that many of them might wish. The woman I interviewed does not own a home, nor is she anywhere close to affording one. She has nothing in the way of savings. Nevertheless, she is a grandmother, catapulting into middle age.
Millennials, as just about everyone knows at this point, are a generation delayed. The pandemic recession has led not-so-young adults to put off having kids, buying a house, getting married, or investing in a car—yet again. But today’s economic conditions are not just holding Millennials back. They are stratifying them, leading to unequal experiences within the generation as well as between it and other cohorts.
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