Why Gen X Lost Big in the Great Recession
Gen Xers lost almost half their wealth in the Great Recession.
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To be exact, 45 percent of it. That’s, on average, $33,000 lost per household, which is 20 percent more than any other group lost in the recession. Why were Gen Xers hit so much harder by the recession? The net worth formula (assets minus debt) was skewed by higher debt levels and made for a low level of net worth, which certainly didn't help when the Great Recession hit. In fact, the recession reduced that already low net worth by a further 25 percent.
Their net worth hasn't rebounded.