I am sorry that you feel you are downwardly mobile, but you should not assume your experience generalizes.
This is, in fact, a generalized experience: [0]
[0]https://www.pewresearch.org/social-trends/2019/02/14/millenn...
i think if you gave people a legitimate choice to go back to 1980 (and take their friends let’s say), we would see the revealed preference. certainly if you did it for a year and then gave them the option to come back
Your article is from 2019. We're now "wealthier than previous generations were at [our] age" [1].
[1] https://www.wsj.com/personal-finance/millennials-personal-fi...
It's divided by whether you own real estate or equities.
Immigrant homeownership is starkly lower than native-born Americans' [1].
We're probably going to see a surge in that disparity, now, given the immigrant workforce that builds and renovates houses is in the process of being gutted. That increases the value of existing stock.
[1] https://www.jchs.harvard.edu/sites/default/files/research/fi...
That being said, it seems to reference property owners. Hell, if I'd had the money to buy a house prior to the pandemic, I would have. I didn't because of constant reorgs at my employer at the time, which resulted in hiring freezes and reduced raises. The goal behind these was to make the company attractive to buyers. Eventually, they did find one: Oracle. They've since gutted what was a major employer for my region.
Since the pandemic housing has skyrocketed and pay hasn't kept up. It's been stagnant for 40 years while economic output has risen, along with COL [0].
Where'd all of the value go?
(that's a rhetorical question)
[0]https://www.consumeraffairs.com/finance/comparing-the-costs-...
Yes. Millenials own property at the highest rate, age adjusted, in generations. (Anecdote: am Millenial. Own a home. Most of my friends do, too. Yes, it's a bubble, but it's a big one.)
> Where'd all of the value go?...(that's a rhetorical question)
No, it's not. It went to the people who bought houses. Including between 2019 and 2024.
Which generation's mode reached home-buying age in that interval, an interval also generously sprinkled with massive stimulus, a stock-market boom and forced consumption-reduction through stay-at-home orders? (That is a rhetorical question.)
Age-adjusted?
So if you take out the fact that it took up more of the one resource that matters more than anything else to become property owners, then, yes, Millennials have more of it.
Which is kind of proving my point.