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First Gen Z congressman denied apartment due to bad credit

Yahoo Finance Live anchors discuss reports that Maxwell Frost was denied an apartment in Washington, D.C., over bad credit.

Video Transcript

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JULIE HYMAN: So I get to say a slap in the face today.

BRIAN SOZZI: Oh, I was just going to say that. I was going to say that.

JULIE HYMAN: It's time for "Cut for Time," three stories, one minute each. We miss you, Brad. Let's start with this. Maxwell Frost, who will become the first member of Gen Z to serve in Congress in January, he says he was denied an apartment in DC over bad credit.

The congressman said he accumulated the debt from spending money during his campaign. You know, I mean, certainly, my first apartment, like, I had to get my parents as co-signers. It was the whole thing, you know? That's like the thing that you go through. But it is interesting. I mean, being in Congress pays OK, so.

BRIAN SOZZI: Who is reading the paperwork on this? Don't you have to list your job and what you do? At one point, you say, well, maybe this person was investing in a campaign. Run a Google search on him. Do your homework.

JULIE HYMAN: I guess you're supposed to make 80 times rent, I'm being told, in my ear, but-- oh, in New York. Well, but this was in DC, so I don't know what the calculations are there. But I guess it depends on the weighting, right? If you weight your credit score-- if the landlord is weighting the credit score, I assume he found an apartment somewhere.

BRIAN SOZZI: Oh, that was my other question to you. I mean, has he found a place to live?

JULIE HYMAN: I have not gotten an update on that front, but I'm sure that we will get one, but it is interesting what it says about the credit--

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--health of young people in America, I guess.

BRIAN SOZZI: Indeed.