[Joe 6-pack]

"Median net worth of people under 35, according to the U.S. Census, fell 37 percent between 2005 and 2010."

I suspect that Moore's Law may play at least a small role in this. The youth tend to invest a much higher percentage of their disposable income in IT hardware and software that rapidly obsolesces and loses its value.

[cripplecreek]

The youth tend to invest a much higher percentage of their disposable income in IT hardware and software that rapidly obsolesces and loses its value.

Ain't it the truth. Zero restraint buying.

I'm glad I picked up my great grandmother's attitude of frugality. When asked if she wanted a microwave oven for her 90th birthday she said "Why? If you're that hungry, you have bigger problems than how fast you can cook it".

[freedommom]

“Median net worth of people under 35, according to the U.S. Census, fell 37 percent between 2005 and 2010.”

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Hello- everyone’s net worth went down that much and more

Blame granny so it's easier to get rid of her later....
I just hope they don't make us dig our own graves....

and btw the boomer generation is NOT the fault the corrupt central banks and government are to blame

[wbill]

I suspect that Moore's Law may play at least a small role in this

A good theory

Personally, I blame credit cards.

My dad was kibbitzing with one of his buddies about how cheap things were "back in the day", but how they still couldn't afford them. "I didn't have any money, but then again, no one else did either" was their general lament.

And, when I was a kid, a Credit Card was something that was used for emergencies. Period. Mom and Dad paid cash / checks for darn near everything, and I can remember wanting a lot of stuff, but "we just didn't have any money".

Fast forward 30 years. People put Starbucks lattes on their credit cards, and wind up paying 12-20% (or more) interest on a cup of coffee. Then, they wonder how they got into financial trouble.

Moore's law only compounds this vicious circle by accelerating the "you need the latest and greatest" marketing cycle.

[Darth Reardon]

I suspect if we hunted down the numbers that a respectable, and rapidly increasing, majority of the net worth in 2005 of those under 35 would be the equity in their houses.

People over 35 would have more equity, but they would also have more savings and investments built up. They would also have their student loans paid off, carry less CC debt, etc.

Therefore, if we experienced a sudden drop in housing prices, I would expect those under 35 would experience a larger percentage net worth loss.

[nascarnation]

The youth tend to invest a much higher percentage of their disposable income in IT hardware and software that rapidly obsolesces and loses its value.

Yeah but how many of us bought cars that went UP in value 30 yrs ago?