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Why you're poorer than your parents

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  • Why you're poorer than your parents

    http://ca.finance.yahoo.com/banking-...n-your-parents



    Interesting article... More relevant to Canada but I wonder if the US is going through the same thing.

  • #2
    Re: Why you're poorer than your parents

    Great article. I would think 3 factors contribute most:

    1. globalization drives down entry level wages more than others, that hits the young

    2. Canada's apparent housing bubble enriches mostly older people who have homes and equity

    3. the recession pushes tends to push everyone down a few rungs on the career ladder, which means the youngest workers fall into unemployment and have a tough time competing with experienced older workers for the available jobs.

    Although factor 2 has vanished in the US, factors 1 & 3 are hard at work here, too.

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