Young Adults After the Recession: Fewer Homes, Fewer Cars, Less Debt
Chapter 6: Business Ownership
In addition to homeownership, Americans have considerable stakes in private businesses.6 On this score, however, there is not much evidence that young adult households are any less likely to own a business. According to Federal Reserve data, about 8% of households headed by those younger than 35 owned a privately held business in 2010, similar to the level observed in 2001. Business ownership did decline among households in the 35-to-44 age bracket.
Cite this publication: Richard Fry. “Young Adults After the Recession: Fewer Homes, Fewer Cars, Less Debt.” Pew Research Center, Washington, D.C. (February 21, 2013) http://www.pewsocialtrends.org/2013/02/21/young-adults-after-the-recession-fewer-homes-fewer-cars-less-debt/, accessed on July 23, 2014.
- In 2010 business equity was 28% of the value of all nonfinancial assets of American households, second only to residential property (59%) (Bricker et al., 2012). ↩