The article discusses the disparities in housing wealth between the Baby Boomer generation and Millennials in the U.S. housing market. It mentions specific reasons behind this divergence.
The U.S. housing market, which experienced a substantial dip due to rising mortgage rates between June 2022 and February 2023, has since rebounded. Millennials have seen their housing values grow but still lag significantly behind Baby Boomers regarding property wealth. The generational wealth gap is attributed to several factors that have made homeownership less attainable for Millennials.
According to Rod Khleif, Baby Boomers have had more time to accumulate housing wealth due to their longer tenure in the market, which began earlier in their lives. It is a primary driver of the wealth disparity between them and the Millennials. You can read the entire publication here.