50 percent of Boomers owned their own home as 25-to-39-year-olds, compared with 48 percent of Millennials, hardly a difference deserving of headlines or social-media memes.
That's a ridiculously wide age range to use for comparison. And you'd be better off showing the median age of first home purchase or mortgage payoff. A modest increase in income or net worth is meaningless if housing has skyrocketed in comparison.
I mean, you're not wrong, but note that in 2023, Millennials and "25-to-39-year-olds" are one and the same. That is, I agree that this is not the best comparison, but the age range isn't arbitrary.
That's true, but it captures folks across such a wide range of stages of life as to be useless. Breaking it down into two to four buckets would make the point more convincing.
The number is around 32 for boomers, and 34 for millennials.
The age range is very specific, say 95th percentile onwards, else you can just say 18 - 39, but you would find that even more unreasonable, despite it including roughly the same population.
It's not wide. Mortgage payoff is not tracked as much as anyone would like.
> A modest increase in income or net worth is meaningless if housing has skyrocketed in comparison.
If the housing prices are temporarily inflated or stagnate for a few years, then it truly does not matter as much as you would like it to be. No generation is immune to market conditions, nor should be.
That's a ridiculously wide age range to use for comparison. And you'd be better off showing the median age of first home purchase or mortgage payoff. A modest increase in income or net worth is meaningless if housing has skyrocketed in comparison.