Reply to WSJ Affording a Family

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][twitter][quote=Anonymous]...it’s well documented that Boomers and Early GenX benefitted from the booming 80s and 90s economies and had crazy cheap housing. [/quote]

GenXer here - I think you're confusing our generation with the Boomers. I graduated from college in the early 90s to a "jobless recovery" from the 89-91 recession, which extended well into 1992 and ensuing research shows our generation never did 'catch up' to the earnings of people who started out in a strong economy. We did not have large amounts of student debt like college graduates today - I took the max loans & with work study job only ended up with $30K in debt. BUT, the dot com bubble, 2008 crash, etc, along with extended periods of low interest, killed GenX's investments & we now have the dubious distinction of being the first generation in the US to do worse than their parents.

https://www.investopedia.com/terms/g/generation-x-genx.asp

All that said, it certainly was easier for us to afford to raise a family than people now. But, I would not sugarcoat the experience of GenXers and conflate it with the Boomers who truly had a different ride. [/quote]

GenX did worse than baby boomers and many millenials, especially in terms of salary growth.

But the dot.com fueled a huge runup in salaries and houses were cheap for that whole period of peak early GenX.  Late GenX were absolutely f’ed as they had high housing prices but were too old for the tech job market. [/quote]

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