How the Great Recession defined the millennial generation

Millennials came of age during the Great Recession, which created a domino effect of financial woes for the generation.

The financial crisis is a key player in the Great American Affordability Crisis, in which millennials struggle to afford staples like housing.

From creating a generation gap to causing millennials to delay life milestones, here's how the recession has defined the generation.

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The Great Recession affected many Americans, regardless of age, but it hit millennials particularly hard.

It's one of the key events that shaped the generation, Jason Dorsey, a consultant, researcher of millennials, and president of the Center for Generational Kinetics, previously told Business Insider. During this time, millennials were coming of age, meaning they were kickstarting adulthood amidst the financial crisis and its post-recovery period.

Read more: The Great Recession split the millennial generation down the middle, creating 2 groups with very different financial habits

The ongoing fallout of the recession is a key part of the Great American Affordability Crisis that millennials are experiencing, in which they struggle to afford staples like housing and healthcare.

The recession ultimately created a domino effect that put millennials financially behind and on a slow path to wealth accumulation. Here's how it affected the generation.