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Old 05-31-2013, 07:20 AM
 
Location: Austin
30,410 posts, read 17,801,628 times
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And still have not recovered.

From the peak of the boom to the bottom of the bust, households watched a total of $16 trillion in wealth disappear amid sinking stock prices and the rubble of the real estate market. Since then, Americans have only been able to recapture 45 percent of that amount on average, after adjusting for inflation and population growth, according to the report from the St. Louis Fed released Thursday.

Americans have rebuilt less than half of wealth lost to the recession, study says - The Washington Post
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Old 05-31-2013, 07:22 AM
 
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I know some of y'all think you're the center of the universe, but where do you see "Baby Boomers" mentioned in that article?
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Old 05-31-2013, 07:24 AM
 
Location: Londonderry, NH
41,478 posts, read 53,722,006 times
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My investments lost very little and have recovered very well.
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Old 05-31-2013, 07:26 AM
 
Location: Austin
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Quote:
Originally Posted by le roi View Post
I know some of y'all think you're the center of the universe, but where do you see "Baby Boomers" mentioned in that article?
Baby Boomers are Americans. They probably owned a disproportionate share of the wealth and the wealth lost.
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Old 05-31-2013, 07:27 AM
 
Location: Austin
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Quote:
Originally Posted by GregW View Post
My investments lost very little and have recovered very well.

Good for you. But we're talking about the total picture, not individuals.
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Old 05-31-2013, 07:27 AM
 
1,963 posts, read 1,653,502 times
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Those who didnt get scared and sell off should have recovered fully, and then some, by now.

I'm up about 30% from mid 2008.
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Old 05-31-2013, 07:28 AM
 
22,770 posts, read 27,507,800 times
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Quote:
Originally Posted by Roadking2003 View Post
Baby Boomers are Americans.
Well, there are Canadian and Australian baby boomers.

Quote:
They probably owned a disproportionate share of the wealth and the wealth lost.
Probably, yes. But "probably" isn't a very strong position to be taking, is it?

I'd argue that the decline in wealth has occured mostly among the Gen Y and Gen X. Gen Y has a ton of individuals with negative wealth from (A) Student loans and (B) Awful labor market. Gen X has negative wealth from underwater housing.

Boomers, by contrast, may own the majority of housing markets, but they also own the majority of stock markets too. As a % of their personal assets they are more heavily invested in the stock markets, which has obviously performed well.
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Old 05-31-2013, 07:30 AM
 
Location: Austin
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Quote:
Originally Posted by le roi View Post


Probably, yes. But "probably" isn't a very strong position to be taking, is it?
Yes, it is.
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Old 05-31-2013, 07:33 AM
 
Location: Austin
30,410 posts, read 17,801,628 times
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Quote:
Originally Posted by k.smith904 View Post
Those who didnt get scared and sell off should have recovered fully, and then some, by now.

I'm up about 30% from mid 2008.
I'm doing fine too, but that's because I could sit tight and wait. Many people could not since they needed the money for retirement, etc.

From the link;

The report found that the most fragile households were not well educated, relatively young or black or Hispanic, or some combination of those characteristics. Those families tended to have low savings combined with high debt and accrued much of their wealth through housing.
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Old 05-31-2013, 07:34 AM
 
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Originally Posted by Roadking2003 View Post
Yes, it is.
Probably not.
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