Gen X, Y investors see fiscal hopes sink in real estate quagmire
Throughout the course of my career, I’ve heard a lot of financial horror stories. The majority of these stories are told by baby boomers whose aggressive stock market strategies went bust, often at the behest of a transaction-oriented “advisor.”
The most pain—yes, even marginally greater than that of former Enron employees and Bernie Madoff scam victims—has been felt by a younger generation, however, in America’s suburbs, far from Wall Street.
Relinquishing its collective Abercrombie & Fitch flannel shirts for suits and ties, Generation X was buying its first homes just as the Farrelly brothers—directors of “There’s Something About Mary”—were hitting the movie scene and the real estate market was warming up.
Read the rest of the article on CNBC.