Skip to comments.Young households ‘crushed’ by recession
Posted on 06/19/2012 11:05:08 AM PDT by TurboZamboni
Young US households those aged 35-to-44 lost a stunning 59 percent of their wealth during the recession, a government report released yesterday revealed. Thats the stiffest hit of any age group, said the report from the US Census Bureau. The age group typically struggling with mortgages, tuition bills and rising tax bills makes up the backbone of Americas middle class. The losses were mainly due to the drop in the value of their homes during the 2005 through 2010 period, the report said
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The radical boy socialist must go! He’s killing America. To hell with liberals!
And boomers wonder why their kids are struggling.
I remember a discussion I heard on the radio about how these recession years are going to be lost years for people this age. They are the ones who should be acquiring wealth and stability, yet the economy in the past 3 and a half years has sapped both.
The other group that may lost a couple years are the young twenty somthings straight out of school, but that is more recoverable.
“during the recession”
During this CONTINUING Recession.
There is no way Obama can get re-elected with stats like these.
No way that 0bama SHOULD get re-elected with stats like these,
but never underestimate the power of stupidity of the electorate or the amount of fraud that will happen.
Local and very successful landscape and sprinkler couple in their 30’s told me in 2009 they voted for Mr dope and blame.
Told em at the time your gonna be very sorry.
They are so broke now and they hate this President like no other.
I wouldn’t be surprised that the divorce rate will jump (more than recent trend), because of the hard times and general dissatisfication.
More social issues result from that.
This is too big a loss to be explained by house prices and the stock market. It looks like these households were forced to sell assets and spend capital.
Those who are able to continue saving and investing during this period (2008-12) are still doing at least OK.
“The losses were mainly due to the drop in the value of their homes...”
Oh, that loss doesn’t affect anyone else? Like older folks who may have paid off their home and may need to sell it to live? It’s only a loss if you sell it at a loss, or get foreclosed with a big mortgage.
you don’t need any wealth under socialism - the government takes care of you.
Im in that age group. Lost 25% of my income plus increased gas price and increased food prices. FUBO!
Yup. My boomer parents are utterly clueless when it comes to what Gen x’ers are dealing w.
That’s okay - they’re going to vote Obama in 2012 and he’ll fix it. :)
Japan had their lost decade,hopefully President “Present” and Congressrats haven’t set us back even more.
Obama benefits from slavish racial solidarity, white guilt, and media kneepadding.
——Told em at the time your gonna be very sorry.-—
Even after seeing “Jay walking,” it’s hard for me to grasp the fact that such a large percentage of the population is apolitical.
59% is about right. We took a bath in the house market. Ended up shortselling one house, but paid off the other. Couldn’t keep both and not dumping and paying off the other would have caused us to lose our primary home about 6 months ago.