Good afternoon: Today's PM — edited by Justin Green — is 442 words, a 2 minute read.
Illustration: Aïda Amer/Axios
The American dream is on hold:
The big picture: "The net worth of your average Millennial household is 40 percent lower than for Gen X households in 2001 and 20 percent lower than for Baby Boomers’ households at the end of the 1980s," notes Annie Lowrey in The Atlantic.
Why it matters: The human costs are huge, leading to delayed family formation and more people living a paycheck away from disaster.
The bottom line: All this is during a booming economy!
Go deeper: The global fear of too few young people
Taylor Swift takes selfies with fans as she arrives at the MTV Video Music Awards.
Nissan has developed a golf ball that can sink itself, Bloomberg reports, part of an ongoing marketing campaign for its autonomous vehicle tech.