Gen-X Household Income Falling, Gen Xers Aging (Latest Gen-X News)

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

Peter Berkowitz has written a pretty entertaining opinion editorial on the aging of Generation X. It appears in the Louisville Courier (Kentucky). Here is an excerpt:

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…”

Gen X Blog Jennifer Chronicles

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