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 X Aging

Vintage Francies by Mattel via ro / wererabbi on Flickr with Creative Commons
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