The recession was difficult for everyone, but it is clear it hurt some more than others. For households headed by young adults — anyone 40 or under — wealth adjusted for inflation remains 30% below the 2007 average.
This is not a good sign for the economy. Household consumer spending is very important and accounts for almost 70% of the economy.
Homeownership rates for 35-44 year olds have been dropping as well, further indicating a slowdown in spending for young adults.
Read more here: https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11233758
If debt is keeping you from building wealth, contact a debt settlement attorney who can likely help you get rid of high-interest debt.
The following two tabs change content below.
Kevin Fallon McCarthy
Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.
Latest posts by Kevin Fallon McCarthy (see all)
- Different Ways to Get Out of Debt - January 22, 2019
- Public Servants’ Second Chance at Federal Student Loan Forgiveness - April 10, 2018
- CREDIT CARD LOSS FOR SMALL BANKS AT AN EIGHT YEAR HIGH - March 22, 2018
- Rise of the Jumbo Student Loans - March 17, 2018
- Credit Card Market: Now and Then - February 23, 2018
