According to the People's Policy Project, young American families today are not on footing quite as firm as young families of the past,, as they face lower incomes, higher debts, and nearly zero wealth.
- [T]he median young family had a net worth of $1,250 in 2016. This was down from the $7,846 peak in 1995.
- In 2007, the mean young family had primary residence assets equal to $113,079. In 2016, they only had primary residence assets equal to $69,076.
- Student debt increased [from 1989 to 2016] by 702%.
- [V]ehicle debt ... increased by 40.7%.
- Rising student debt levels in part reflect the fact that more kids are going to college than ever before. This ever-increasing rate of college attendance is promoted on the theory that pushing people through college increases aggregate “human capital,” which will drive incomes higher. But the incomes of young families haven’t gone up. Both the mean [$63,510] and median [$47,376] income of young families peaked in 2001.