An article published earlier today on Forbes does not paint a particularly happy future for Generation X homeowners. In fact, Gen X household income is falling.
Household Income Falling (Excerpt)
The Joint Center for Housing Studies of Harvard University reports that real median household incomes across all age groups under 55 have not increased since 2000. It’s been posited that this will be the first decade in 40 years where real median household incomes will end lower than where they started. This has the biggest implications for the baby bust generation (born 1966-1985) as they approach what should be their prime earning years and for younger baby boomers that will be facing a vacuum of demand from younger generations when they want to retire, sell the family home and down-size. Over-building and spiking foreclosures have already produced an over-supply of large suburban homes for which there is little demand or ability to purchase. Gen X and Y will not do much to help solve this problem.
It seems like a good day for remembering that money isn’t everything.
Editor’s Note: Baby Bust Generation is another name for Generation X.
Gen Xers Supervising Baby Boomers
Clowns to the left of me
Jokers to the right
Here I am
Stuck in the middle with you
The current issue of Law Officer has an article Gen X Supervisors of Baby Boomer Officers. It’s a good primer for anyone in law enforcement perplexed by generational differences. The author of the piece uses the above lyric from Stuck in the Middle by Britain’s Steal Wheelers to describe how Gen X feels. I thought it was pretty clever. Here is an excerpt from the article:
There are reasons this Gen X officer may have hit upon the hotter challenge facing police leadership. Baby Boomers are the largest demographic in our country and the work force. Their predicted mass exodus into retirement isn’t happening. There are a couple of proffered explanations.
The writer of the article, Valerie Van Brocklin, will publish a piece next month that will include how-to ideas for Gen Xers when it comes to leading Baby Boomers.
Photo Credit: Manni Manae via Flickr with Creative Commons
Gen X Aging
Vintage Francies by Mattel via ro / wererabbi on Flickr with Creative Commons
I’ve tried to be young. It just wasn’t for me. There’s not much worse than not knowing what’s going on, not knowing who you are, being at the mercy of so many cruel factors — parents, teachers, bosses. I’d rather be old, rich and fat than get really stoned while the Foo Fighters play in a field behind me…Clearly, I didn’t peak in my teens. I’m finally happy now, in my 30s. I did what I guess you’d call “settling down.” No more psychodrama romances, no more staying out until 4 a.m. drinking away the pain. Now we have cats…
My Generation TV Show: The Journey of Generation Y
A Dallas Morning News review calls it fake, forced and shallow. Ouch!