From 1983 to 2022, U.S. household wealth shifted sharply toward those 75+, while all other age groups lost relative share. Using SCF data, the paper shows three drivers—homeownership, stock ownership, and mortgage debt—where young adults’ homeownership stayed flat and lagged the average, seniors’ homeownership jumped, stock gains heavily favored seniors, and mortgage debt rose more for the young in relative terms.
teddy9090 on
tbh this is why i hate being told “when my parents were my age they owned a house” like yeah gramps the economy was different in the 70s, we can’t all just work a summer job to pay for college.
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Paper summary:
From 1983 to 2022, U.S. household wealth shifted sharply toward those 75+, while all other age groups lost relative share. Using SCF data, the paper shows three drivers—homeownership, stock ownership, and mortgage debt—where young adults’ homeownership stayed flat and lagged the average, seniors’ homeownership jumped, stock gains heavily favored seniors, and mortgage debt rose more for the young in relative terms.
tbh this is why i hate being told “when my parents were my age they owned a house” like yeah gramps the economy was different in the 70s, we can’t all just work a summer job to pay for college.