Young consumers struggle to rebuild wealth

05/8/2013 | Wall Street Journal, The

People under age 35 experienced a 59% loss in home equity when home prices dropped between 2007 and 2010; those ages 35 to 44 experienced a 49% loss. The massive blow to young people's net worth is restricting their ability to rebuild wealth, says Edward Wolff, a New York University economist. The net worth of minorities and the middle class also suffered disproportionately during the downturn.

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Wall Street Journal, The

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