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whimsicalism | on: Stargate Project: SoftBank, OpenAI, Oracle, MGX to build data centers
it’s also turbocharged by the number of people that are descendants of immigrants
JumpCrisscross | parent
> turbocharged by the number of people that are descendants of immigrants

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...

whimsicalism | root | parent
exactly my point - if you were to subset to people whose parents were native-born US and compare their wealth to that of their parents at same age, it would be absolutely higher. it looks closer than it is because of immigration and we aren’t comparing to the parents in their home country
s1artibartfast | root | parent
What I find interesting is that children in of immigrants greatly outperform children of non-immigrants when compared by household income. That is to say, the have higher economic mobility intergenerational income growth.
whimsicalism | root | parent | next
nothing about that is surprising and is exactly what you would expect when people move to places with more efficient talent markets, especially from pseudo-feudal societies that still existed in lots of the developing world in the 20th century, and that's before you get into the selection effect.

my dad was basically expected to work the farms his entire life and school ended at the 3rd grade where he grew up, he moved to the US and became a chess master & went to one of the best colleges in the country. impossible where he was from and really shows how stupid and zero-sum-minded old world elites are compared to the US/anglo culture.

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JumpCrisscross | root | parent
> immigrants greatly outperform children of non-immigrants when compared by household income

Income, not wealth. Particularly not after inheritances transfer.

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