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Sponsored by Pillar to Post |
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Gen X Falls Behind in Equity Gain |
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Homeowners have made inroads in building equity back up since the crash, with mortgages more evenly leveraged as values recover. One group, however, is struggling more than others to claw its way back. Gen X homeowners—those aged 35 to 50—wound up seeing the worst effects of the downturn, and though they have begun to recoup equity, they are doing so at a more sluggish pace than older generations, according to the recently released Zillow Home Equity Report. Homes owned by Gen Xers are 70 percent mortgaged, compared to homes owned by baby boomers, at 56 percent, and the Silent Generation, at 45 percent. Moreover, Gen Xer equity is on par with millennials, a group that has had much less time to accumulate wealth ...
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