yow: "In part, this is because the typical Gen Xer has six times more debt than their parents did."
Posted by
fabulous squad (aka amanda)
Jul 1 '15, 06:24
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This report finds that three-quarters of Gen Xers—Americans born between 1965 and 1980—have higher family incomes than their parents did at the same ages, but only a third have higher wealth. In part, this is because the typical Gen Xer has six times more debt than their parents did. Gen Xers were hit particularly hard by the Great Recession, which brought falling housing values and rising unemployment rates. As a result, they lost nearly half their wealth between 2007 and 2010.
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