N'importe quoi. Older generations typically have more assets. Over time, assets appreciate due to inflation. It's physics! Buy a home now when you are younger, to benefit from this phenomenon when you are older. Ergo, it does make younger generations wealthier!
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but.... houses in the Bay Area were 3-4X median incomes in the 1970s and now they're 10X incomes... soooooo will they be like 30X incomes in a generation and if so, who will be able to afford them?
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Interesting.
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Property wealth transfers to next generations. It's been happening for centuries. Rich families beget rich children, who pass it to their heirs. And this "hot take" is incorrect: property wealth accumulation is created weekly, but is often a slow process. Landlords won "the game"
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Home ownership has always been a financial risk. Many Americans lost their homes in 2007-2009, and many more will do the same in the next recession. People in Sonoma, Napa, Santa Rosa, Santa Barbara lost due to natural disaster. Wait until the earthquakes come for the rest of us
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The problem is that any fix is likely to annihilate the wealth of the last generation to buy in. Thank god I'm only at 3x income, so you'll only wipe out 15% of my lifetime after-tax income, but still... /5% inflation target now.
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I'd like to leave with 80% of my dollar value. Nobody ever said how much those dollars had to be worth.
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