Select Page

Affluent Gen Xers faced foreclosure more than anyone else

The 2007-2008 foreclosure crisis triggered a much bigger financial crisis, which led to an economic recession. Now, a new study by a University of Arkansas economist suggests that while banks did prey on unwitting consumers, it is more likely that households overreached and borrowed more than they could afford.

And the biggest overreachers? Sigh. Gen Xers.

According to the U of A professor, Tim Yeager, the group with the greatest excess foreclosure percentage was Cash and Careers — the most affluent generation (Generation X) of adults born between the mid-1960s and early 1970s.

Yep. Gen Xers faced foreclosure more than any other generation.

Yeager certainly emphasizes there is plenty of blame to go around. He says both consumers and lenders were too aggressive. But…Read more here.

Photo Credit: Quint Cobb Foreclosure Relief

Gen X Blog Jennifer Chronicles

Thank you for subscribing. Posts are delivered ONCE A WEEK on Sundays at 6 p.m. You can unsubscribe anytime with one click. Also, we will not share your email address with anyone.
Posted in:

2 Comments

  1. Yogi♪♪♪

    I think GenXer’s are at a vulnerable part in the their careers now with kids to raise and many of them can see larger amounts of money in the near future but they are not quite there yet.

    I am not interested in a lot of finger pointing. I think families losing their houses is a terrible thing.

    Reply
  2. Anonymous

    I agree!
    Hugs– Mom

    Reply

Share Your Thoughts

Pin It on Pinterest