Housing market crisis is making boomers richer and millennials poorer
As the U.S. housing market continues to see home values increase, it’s creating a staggering amount of wealth — if you happen to be a homeowner. But for those who have yet to buy, it’s pulling the American dream of home ownership increasingly out of reach. The generation that’s impacted the most? Millennials. Even though they make up the largest demographics of homebuyers these days, millennials are lagging far behind older generations in wealth. Meanwhile, baby boomers are sitting on more than half of the U.S.’s wealth.