Baby boomers hold 51.7% of the nation’s wealth, more than any other generation.
Key Takeaways
- Although Boomers make up less than 20% of the population, they own nearly 41% of all real estate in the U.S., according to a new report.
- Real estate accounted for 22.7% of Boomers’ total wealth.
- Gen X owns 12.2% less real estate compared to Boomers at the same age, per the report.
Baby boomers may account for less than a fifth of the population, but they own almost 41% of all real estate in the country — nearly $20 trillion worth, according to a recent study from the financial services company Self Financial.
Millennials own 20.4% of all real estate in the U.S., or just shy of $10 trillion, according to the report. Meanwhile, Gen X owns 29.4% of the country’s real estate, worth about $14 trillion. The study found that Gen X owns 12.2% less real estate compared to baby boomers when they were the same age.
The study analyzed data and population statistics from the Federal Reserve on millennials (born 1981–1996), Generation X (1965–1980), and baby boomers (1946–1964). Gen Z was excluded due to limited available data.
The study also revealed that baby boomers are 5.2 times wealthier than millennials, due to owning the largest slice of real estate in the U.S. and other factors, like corporate equities and mutual funds. Real estate is just 22.7% of Boomers’ total wealth, according to Self Financial.
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Millennials, on the other hand, hold 40.8% of their collective wealth in real estate and only 15.5% in corporate equities and mutual funds.
Overall, baby boomers possess a disproportionately large share of America’s overall wealth, accounting for about 51.7% of the nation’s total assets. Generation X holds approximately 25%, while millennials control close to 10% of U.S. wealth.
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Meanwhile, a new report released earlier this week by wealth intelligence company Altrata suggests that those with at least $30 million in assets, including real estate, will increasingly be part of a younger generation. By 2040, millennials and Gen Z are expected to gain wealth due to the “great wealth transfer.” Experts estimate that about $84 trillion will eventually pass from Boomers to their heirs over the next couple of decades, which could dramatically shake up the way wealth is distributed across generations.
Key Takeaways
- Although Boomers make up less than 20% of the population, they own nearly 41% of all real estate in the U.S., according to a new report.
- Real estate accounted for 22.7% of Boomers’ total wealth.
- Gen X owns 12.2% less real estate compared to Boomers at the same age, per the report.
Baby boomers may account for less than a fifth of the population, but they own almost 41% of all real estate in the country — nearly $20 trillion worth, according to a recent study from the financial services company Self Financial.
Millennials own 20.4% of all real estate in the U.S., or just shy of $10 trillion, according to the report. Meanwhile, Gen X owns 29.4% of the country’s real estate, worth about $14 trillion. The study found that Gen X owns 12.2% less real estate compared to baby boomers when they were the same age.
The study analyzed data and population statistics from the Federal Reserve on millennials (born 1981–1996), Generation X (1965–1980), and baby boomers (1946–1964). Gen Z was excluded due to limited available data.
