Are Wealth Levels Going South? | McCarthy Law PLC
April 7, 2014

Are Wealth Levels Going South?

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.

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If debt is keeping you from building wealth, contact a debt settlement attorney who can likely help you get rid of high-interest debt.



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