Clinton, Bush Focus on Wealth Gap as Homeownership Dives

Clancy DeSmet has given up hope of owning a home after he was denied a mortgage because of his student debt. His chance of building significant wealth is fading too.

“Every generation of parents thinks their kids are going to have as good a life, or better, than they had,” said DeSmet, 40, district coordinator for Vermont’s Natural Resources Board. “That’s not happening for a big chunk of my generation.”