30-year-olds worse off than their parents' generation

Washington, June 24 (ANI): US citizens, who are in their 30s, are the only age group that are worse off than their counterparts thirty years ago, a study has claimed.

The study by the Urban Institute showed the net worth of the current 30-somethings - adjusted for inflation - has reduced 21 percent from what people in their 30s enjoyed in 1983, CBS News reported.

The entire generation has had to fight this battle, and economists think that the reason partly is because the traditional means of building wealth are disappearing.

According to US census, buying a home was a historic source of wealth, but since 1990 a significant drop has been seen in home ownership for people under age 39.

And then there is college debt, which, according the Federal Reserve of New York, now tripled in the last 10 years. (ANI)


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