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50 percent of Boomers owned their own home as 25-to-39-year-olds, compared with 48 percent of Millennials, hardly a difference deserving of headlines or social-
by zbrozek 3y ago
50 percent of Boomers owned their own home as 25-to-39-year-olds, compared with 48 percent of Millennials, hardly a difference deserving of headlines or social-media memes.
That's a ridiculously wide age range to use for comparison. And you'd be better off showing the median age of first home purchase or mortgage payoff. A modest increase in income or net worth is meaningless if housing has skyrocketed in comparison.
- latency-guy2 3y agoThe number is around 32 for boomers, and 34 for millennials. The age range is very specific, say 95th percentile onwards, else you can just say 18 - 39, but you would find that even more unreasonable, despite it including roughly the same population. It's not wide. Mortgage payoff is not tracked as much as anyone would like. > A modest increase in income or net worth is meaningless if housing has skyrocketed in comparison. If the housing prices are temporarily inflated or stagnate for a few years, then it truly does not matter as much as you would like it to be. No generation is immune to market conditions, nor should be.
- chaosite 3y agoI mean, you're not wrong, but note that in 2023, Millennials and "25-to-39-year-olds" are one and the same. That is, I agree that this is not the best comparison, but the age range isn't arbitrary.
- zbrozek 3y agoThat's true, but it captures folks across such a wide range of stages of life as to be useless. Breaking it down into two to four buckets would make the point more convincing.