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Millennials on course to become ‘richest generation in history’ (www.theguardian.com)

submitted 9 months ago* (last edited 9 months ago) by JoMiran@lemmy.ml to c/news@lemmy.ml

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SPOILER: Article assumes that Boomers will die and leave their wealth to Millenials.

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[–] vexikron@lemmy.zip 10 points 9 months ago* (last edited 9 months ago) (1 children)

The Boomers in America will generally have their wealth eaten up by astounding healthcare costs before much or any of it gets handed down.

Not sure how anyone can really come to any broad conclusion other than that, excepting edge cases and the significantly wealthy.

The Boomers will just keep doing second or third or reverse mortgages or whatever until they finally downsize or move into old folks homes, sure maybe one of their kids gets the house, more likely they sell it to cover their debts, or if they do pass it on, at that point its basically financially wrecked.

Truly astounding that the real estate man being taken at face value isnt mentioning any of the financing of homes.

[–] Krono 3 points 9 months ago

This is all about the significantly wealthy, everyone else is just a rounding error.