ML-Implode News - Likelihood of Defaulting Ticks Up; Tilts Towards The High-Income End

In terms of assets, they report higher home ownership than peers, but lower home equity values, greater usage of adjustable and interest only loans and higher non-mortgage related debt. In terms of incomes, a majority report that income barely or does not cover expenses and they are slightly or very worried about earning less money.
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While difficult to prove decisively other survey results on the millennial generation specifically seem to be consistent with the thesis that US consumer willingness to default (or the lack of stigma associated with bankruptcy) may have increased further in the post-crisis era.

To us, this is also another data point demonstrating that "middle class" or even slightly "rich" has been redefined to something that is, in fact, very cash-poor, and constantly in low-level peril...

Relevant:

Likelihood of Defaulting Ticks Up; Tilts Towards The High-Income End