Young adults in Generation Z are finding it difficult to “stay optimistic” about their economic future as rising living costs and unaffordable housing prices force them to rethink their dreams, according to a new report.

“Since 2020, I feel like it’s all downhill from here,” Tashianna Allen, a 25-year-old Minnesota laborer who shares a home with her mother, told The Star Tribune.

The Minnesota newspaper spoke to young adults who admitted that since 2020, they have had less confidence in achieving financial security or reaching milestones like owning a home.

Jami Mistic, 26, and Courtney Kujala, 27, told the newspaper that they had both struggled to pay their bills and afford groceries in recent years, despite working full-time and sharing apartments with friends.

In a new report, young Americans of Generation Z expressed their frustration with the economy. (Photo by Paola Chapdelaine for The Washington Post via Getty Images / Getty Images)

Generation Z relies more on credit than Millennials and accumulates more debt

“It can be very frustrating because people don’t understand what it’s like,” Mistic said. “I’ve been middle class my whole life, but I’ve never felt that way.”

Prices for gas, groceries and rent remain uncomfortably high for many Americans. The latest Consumer Price Index (CPI) released by the Labor Department showed that prices rose 0.2% in July from the previous month and 2.9% from the same period last year. However, the report marked the lowest inflation level since March 2021.

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As with voters of other age groups, fighting inflation remains a key issue for Generation Z voters in November.

More than two-thirds of Americans ages 18 to 34 in seven swing states cited inflation and the cost of living as their top concerns, according to a new U.S. News poll conducted in early July.

The president of the Committee for a Responsible Federal Budget, Maya MacGuineas, criticized Kamala Harris’ economic plan, which is based on a “blank slate.” (Getty Images/FOX Business/Photo Illustration/Fox News)

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Both Vice President Kamala Harris and former President Trump have promised to reduce high prices for consumers if they win the election in November.

Harris unveiled a price control plan this week that her campaign says will provide relief from high food prices.

The proposal would give the Federal Trade Commission and state attorneys general the authority to impose tough penalties on companies that set excessive prices for food and groceries.

At the Republican Party convention in July, Trump also presented his own economic plan, which includes abolishing the tipping tax, increasing tariffs on other countries and encouraging more oil drilling in the United States.

Fox News’ Jamie Joseph, Alec Schemmel and Megan Henney of Fox Business contributed to this report.

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