3 ms·

What formed your understanding? My understanding is that the opposite is true, I've read numerous articles to that effect, here's but one example: https://www.

What formed your understanding? My understanding is that the opposite is true, I've read numerous articles to that effect, here's but one example: https://www.visualcapitalist.com/charting-the-growing-generational-wealth-gap/ https://www.visualcapitalist.com/charting-the-growing-genera... One quote: "But the difference is as much in assets as it is in opportunity. In 1989, Baby Boomers and Generation X under 40 accounted for 13% of household wealth, compared to just 5.9% for Millennials and Generation Z under 40 in 2020."

MattPalmer1086 3y ago
If you take Gen X to range from 1965 to 1980, everyone in Gen X would be under 40 in 1989. The oldest would be only 24, and most of them would still be children. So unsurprising they don't account for much household wealth in that time!
- eliasmacpherson 3y ago
  The point is the comparison shows that previous generations were wealthier at a given age, not how much Gen X (<=24 years) or Gen Z(<=24 years) held at that point in time.
  - MattPalmer1086 3y ago
    Yes, I guess that's right. It's just weird to include generations that were mostly children in a calculation of household wealth.
eadmund 3y ago
> What formed your understanding? Articles like https://www.theatlantic.com/magazine/archive/2023/05/millennial-generation-financial-issues-income-homeowners/673485/ https://www.theatlantic.com/magazine/archive/2023/05/millenn... and https://www.cato.org/commentary/american-wealth-machine-its-misguided-discontents https://www.cato.org/commentary/american-wealth-machine-its-...
- eliasmacpherson 3y ago
  Thanks for the interesting article on the atlantic, I had to go through google to read it, the usual sites to unlock it didn't work. There may be trouble ahead: https://www.statista.com/statistics/591435/house-price-to-income-ratio-usa/ https://www.statista.com/statistics/591435/house-price-to-in... https://www.nytimes.com/2022/11/04/realestate/housing-market-interest-rates.html https://www.nytimes.com/2022/11/04/realestate/housing-market... Almost uniquely in the west, American millenials can enjoy fixed interest rates for multi-decade mortgages, so that may soften the blow for current homeowners.

MattPalmer1086 3y ago

If you take Gen X to range from 1965 to 1980, everyone in Gen X would be under 40 in 1989. The oldest would be only 24, and most of them would still be children. So unsurprising they don't account for much household wealth in that time!

eliasmacpherson 3y ago
The point is the comparison shows that previous generations were wealthier at a given age, not how much Gen X (<=24 years) or Gen Z(<=24 years) held at that point in time.
- MattPalmer1086 3y ago
  Yes, I guess that's right. It's just weird to include generations that were mostly children in a calculation of household wealth.

eadmund 3y ago

> What formed your understanding? Articles like https://www.theatlantic.com/magazine/archive/2023/05/millennial-generation-financial-issues-income-homeowners/673485/ https://www.theatlantic.com/magazine/archive/2023/05/millenn... and https://www.cato.org/commentary/american-wealth-machine-its-misguided-discontents https://www.cato.org/commentary/american-wealth-machine-its-...

eliasmacpherson 3y ago
Thanks for the interesting article on the atlantic, I had to go through google to read it, the usual sites to unlock it didn't work. There may be trouble ahead: https://www.statista.com/statistics/591435/house-price-to-income-ratio-usa/ https://www.statista.com/statistics/591435/house-price-to-in... https://www.nytimes.com/2022/11/04/realestate/housing-market-interest-rates.html https://www.nytimes.com/2022/11/04/realestate/housing-market... Almost uniquely in the west, American millenials can enjoy fixed interest rates for multi-decade mortgages, so that may soften the blow for current homeowners.