Much of the attention surrounding Americans’ growing debt load has been reserved primarily for two storylines: Millennials getting crushed by student loan debt, and baby boomers who fear they’ll never see their nest eggs rebound from the Great Recession.
But never before has the generational debt gap been more apparent than in the pockets of Generation X.
Consumers in their mid-30s and early forties are deeper in debt than another other age group, burdened by underwater home mortgages, residual student debt, and a weakened job market. And for members of the so-called sandwich generation who are also caring for their ageing parents, the burden is two-fold.
A census report released in June found Gen X saw a 59 per cent decline in median household net worth between 2005 to 2010 –– the largest of any age group.
In an exclusive infographic compiled by consumer credit and loan tool Credit Sesame, here is a closer look at how all three generations are faring.
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