Young families hit hardest by housing bubble

CHICAGO (MarketWatch)
Data released today by the Economic Policy Institute (EPI) shows that younger families age 35-44 were the hardest hit by the collapse of the housing bubble
While American families on average experienced a 39% drop in net worth between 2007 and 2010, younger families saw a 54% drop in the same time period
The EPI, a liberal-leaning think tank based in Washington, expressed particular concern in the drop because most families start saving for retirement at this age and because younger families will have to save more than previous generations due to expected declines in pensions and Social Security benefits
Further, the economy grew on a per-capita inflation-adjusted basis each year between 1989 and 2010, while net worth for younger age groups fell over the same time period