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Americans now believe it takes $1.9 million to be considered wealthy, according to a Charles Schwab report. In 2020, it was $2.6 million.

The declining American birth rate could actually be good for the economy Boston Globe / Contributor/Getty Images New CDC data found the US birth rate fell by 4% in 2020, the sharpest decline in nearly 50 years. Experts are worried this is a crisis, but it's not necessarily bad news. It's a sign of progress for women and  could also be part of a reshaped, better economy. Earlier this month, the Centers for Disease Control and Prevention (CDC) dropped a new report that revealed the US birth rate fell by 4%, the sharpest single-year decline in nearly 50 years and ...

Sarah Stier/Getty Images They associate wealth with success and happiness, compared to boomers' view of it as independence. Millennials are also most likely to say the pandemic altered how they plan to use their wealth. Wealth no longer means what it used to for high-net-worth millennials. The pandemic has caused the wealthy to alter their lifestyles and reassess their priorities, changing how they perceive wealth in the process, a new report by Boston Private found. The report, titled the Why of Wealth, surveyed high net-worth individuals with at least $1 millio...

First 2020 brought a housing boom, and now 2021 is bringing a home-renovation boom. First-time buyers are more likely to buy fixer-uppers but older homeowners are the ones really spending on DIY. It's yet another chapter in generational inequality, and another way homeownership is less affordable for millennials. The other side of the housing boom is here: home-renovation projects. As Americans were left with more time on their hands and more time in their houses, they began fulfilling their wildest HGTV fantasies. Home improvement and repair spending grew by nearly 3% to $420 billion in 2020...

Housing supply is currently at its lowest level since the 1970s. Goldman Sachs said the shortage could last for years due to millennial homebuying and fewer starts. There also won't be enough foreclosures to make a meaningful impact on the market, the bank says.  Supply for homes can't keep up with demand. At a point when the country badly needs more houses, housing starts fell 9.5% in April, and Goldman Sachs doesn't see the cavalry arriving soon. A May 2 note from Goldman's Ronnie Walker found that new home sales and housing starts have reached their highest levels since 2006, and housing ...