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I've been hearing a lot about how the latest generations have a lot less wealth than their parents. SonI was surprised to read The Economist reporting the opposite: https://archive.is/lwKKk

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That article shows millennials doing poorly though. I don’t think that article tells the full story. It uses inflation adjusted numbers but almost everyone believes real inflation is higher than government figures. The numbers are also averages- it would be great to look at different percentiles.

If we assume the article is true, that’s still not a great outcome – a younger generation achieving the same amount of wealth as much older generation. Younger generations should be achieving greater levels of wealth in an economy that’s growing and with larger amounts of deflationary technology.

The article mentions this, but housing is so much more expensive now that it's by far the largest cost for some people depending on where they live. For example, my father's first house was less than 2x his annual income. Now, in the same city, a similar house is about 17x the annual income of someone working a similar job. Even a small condo is about 8.5x.

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