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Bigger, sure. But the oldest US millennials are turning 40 now, and own around 5% of the wealth. Likewise when the US Boomers were the age millennials are now
by scottLobster 5y ago
Bigger, sure. But the oldest US millennials are turning 40 now, and own around 5% of the wealth.
Likewise when the US Boomers were the age millennials are now they owned about %20 of the wealth collectively.
- candiddevmike 5y agoI wonder if the oversized tech millionaire/billionaire millennials inflate the amount of wealth the majority millennials actually hold. Judging by the number of millennials I know anecdotally living with their parents, I don't think most millennials own a lot of assets.
- burntoutfire 5y agoThe same phenomenon is probably much more pronounced among the boomers.
- the_solenoid 5y agoAnd, buying power was wayyyyy stronger for them. As a % of income, housing tended to cost a fraction of what is currently the norm. It's not uncommon for boomers to just have 2-3 properties because in a middle class job you could afford it.
- refurb 5y agoBut the boomers were a much bigger percent of the population than millennials are today, so of course they’d own more?
- stnmtn 5y agoDo you think these percentages line up? What about the relative cost of a semester of college in 1970-80 vs today? Or the relative cost of housing?