This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

(Washington, DC) A new study suggests people in their 30s have mostly nothing when it comes to having money in the bank.

The Urban Institute, a research organization, says the average net worth for people ages 29-37 is down 21% from three decades ago.

The study attributes the disparity to high college debt and a decline in home ownership.

Home ownership is a significant source of individual wealth.