Bloomberg Businessweek December 27, 2021 pp76 |LAST THING|With Bloomberg Opinion|”Millennials Are Still The Slow Starters” by Shuli Ren
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Summary by 2244
Data comparing asset percentages by Baby Boomers, Generation X (Born 1965-1980) and Millennials (Born 1981-1996)
Percent Share of assets by generation Q2 2021
Boomers 21% real estate, 29% corporate equities and mutual funds
Generation X 26% real estate, 23% corporate equities and mutual funds
Millennials 35% real estate, 8% corporate equities and mutual funds
According to a Bloomberg News analysis and reporting “‘In almost every measurable way millennials in the U.S. at [age] 40 are doing worse financially than the generations that came before.’” Having said that during the pandemic, Millennials have “briskly embraced homeownership, accounting for more than half of all home purchase loan applications in 2020.” But due to “student debt, and putting cash towards down payments, millennials haven’t plowed as much of their money into stocks” and they largely missed the 2021 stock market gains. The good news, according to the Bureau of Economic Analysis, “suggests that housing prices are still fairly tame” increasing 4.2% from prior year while rents have increased 12.6%.
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