Student loans, home prices to blame for millennials’ low consumer confidence

DENVER -- For the first time, Americans younger than 35 have less consumer confidence than those older than 55, according to a report.

Millennials face more student loan debt than any other generation. The rising cost of college has caused the national student loan debt to balloon to $1.4 trillion.

Young Americans are also dealing with home prices far higher than their parents did at the same age.

However, despite their financial challenges, younger generations of Americans are big savers.

Nearly half of working millennials have at least $15,000 in savings, and 16 percent have $100,000 or more in the bank.