Unprecedented wealth creation is driving the housing market. People born before 1970 control $ 107 trillion in wealth and guess what? They gotta leave it behind. So what are they doing with it? Buying homes and helping their adult kids buy and remodel. Most of the wealth held by these folks is in stocks, retirement accounts and home equity. Big inheritances coming.mThat’s $107 trillion in future spending, at least some of it in Vegas casinos and strip clubs. Yes, this wealth is distributed unevenly but it’s still bound to be influential. This chart seems to indicate a doubling of wealth in the last 10 years. Makes sense. The rich getting richer. Takes money to make money.
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8 Comments
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In 1983 you could buy a home for $75k and today a medium priced home in this country is around $400k...want to bet that individuals income hasn't grown at that rate? The middle class is disappearing and the dollar is almost worthless and being pushed aside as a global currency...there's a reason for that..
Yes and No. some boomers are flat ass broke. Living off social security only.
I have that problem oddly. And I’m
Old enough that I really should have a plan for it. I’m not much for extravagant living and don’t have a lot of “causes” Any really. I like most liberals who have 50
Places to throw money to save the world and none generated to do so. I’m the opposite.
My Kids have plenty. My wife’s kids don’t deserve it lol. What to do. Oh and USC doesn’t answer phone calls.