Generation X (or Gen X, as we say) make s up the bulk of foreclosures of homes inAmerica. This is particularly true of the well educated and affluent members of the successors of the baby boomers. Perhaps the predatory lending has reaped its full crop (?)
Gen X’rs that have an average income of almost $60,000 and almost 15 years of education have the highest rates of foreclosure: 1 in 10 are in foreclosure according to St. Louis Fed reserve bank research. They also find that home owners in foreclosure tended to pay 25-33% more for their home and earn about 10% less than home owners not in foreclosure. (That spells unhealthy leverage any you look at it!!)
The median LTVR is 96% of these foreclosures while non-foreclosures was only 65%. Again, unhealthy leverage.