Is Gen X Housing’s Lost Generation?
While the nation’s housing market has mostly recovered from its 2008 crisis, many in one generation are still suffering setbacks from the crisis, according to The Wall Street Journal.
Generation Xers, those born between 1965 and the early 1980s, were hurt the most when home values dropped eight years ago, the WSJ finds.
“In 2004, people then-aged 25 to 34, the core of Generation X, had a homeownership rate of 49.5 percent, the highest for that age group since the U.S. Census Bureau started regularly collecting such data in the early 1980s,” WSJ reporter Chris Kirkham writes.
The 2015 homeownership rate for Gen Xers, now aged 35 to 44 years old, was 58.5 percent. This is seven percent lower than the average for this age range.
“Generation X experienced a much smaller increase in homeownership rates than previous generations as they hit middle age,” according to Kirkham.