American incomes never got back on track after the 2008 crash, and that has been bad news for everyone who started their working life afterward.

• Total US income fell off its long-term path in 2008 and never caught back up, leaving people $5 trillion behind where they would otherwise be.
• Baby boomers built their careers, savings, and home equity before the crash, so they came out fine.
• Younger people entered a weaker job market with fewer chances to grow income or buy a home by age 30.
• Because homes are the main way most families build wealth, missing that step widens the gap between older and younger generations.

Outlook: The split between those who got in before 2008 and those who came after is likely to keep growing unless jobs and incomes pick up for younger workers.