Kids from the '80s may never recover from Great Recession

[Matt Collins]

"The net worth of a typical family headed by someone born in the 1980s was 34% below what was expected, according to a new Federal Reserve Bank of St. Louis study titled "A Lost Generation?"


What's worse, the typical 1980s family lost ground between 2010 and 2016, after the recession ended. These folks, who were in their late 20s and early to mid 30s in 2016, were the only age group to do so out of the six cohorts studied.


The 1980s kids, however, were generally too young to own homes prior to the Great Recession. Even by 2016, fewer than 45% had bought homes, below what was expected.


Millennials born in the 1980s face a "formidable challenge" in restoring their net worth. This could have long-lasting consequences, the report found."






http://money.cnn.com/2018/05/22/news..._medium=social

[DamianTV]

I thought everything was awesome again? We should blame the entire group for "being financially irresponsible" during the Great Recession that STILL has not ended, while simultaneously saying that it has.

[Zippyjuan]

I thought everything was awesome again? We should blame the entire group for "being financially irresponsible" during the Great Recession that STILL has not ended, while simultaneously saying that it has.

What determines the "end of a recession" in your book?

[Pauls' Revere]

"The net worth of a typical family headed by someone born in the 1980s was 34% below what was expected, according to a new Federal Reserve Bank of St. Louis study titled "A Lost Generation?"


What's worse, the typical 1980s family lost ground between 2010 and 2016, after the recession ended. These folks, who were in their late 20s and early to mid 30s in 2016, were the only age group to do so out of the six cohorts studied.


The 1980s kids, however, were generally too young to own homes prior to the Great Recession. Even by 2016, fewer than 45% had bought homes, below what was expected.


Millennials born in the 1980s face a "formidable challenge" in restoring their net worth. This could have long-lasting consequences, the report found."






http://money.cnn.com/2018/05/22/news..._medium=social

Probably not as damaging as the lack of savings for retirement the Baby Boomers have failed to do.