“The original title was The Disappearing Wealth of Young American Households. However, on further inspection, it appears that the real story is the remarkable upswing in the net worth of older American households,” Wolff wrote.
While those under 35 own homes at about the same rate as in 1983, that rate hasn’t kept up with older generations, who now own homes at even higher rates, Wolff found.
Both groups have more money in stocks, but boomers saw much bigger gains, which helped grow their wealth. And while both age groups took on more mortgage debt, it grew much faster for young people compared to their overall wealth.
