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2 months ago@scrubbles Let me correct this one for them:
Millennials — long mocked for being locked out of the housing market and postponing major life decisions due to their financial position — are finally starting to inherit wealth.
Well, as long as they’re middle class.
Many princes and princesses of the top 10% already had parents willing to be guarantors on mortgages, or just outright give precious a trust fund.
And working class millennials are already screwed, and will be for the rest of their lives.
But for 40-something middle-class Millennials, their 70-something Boomer parents kicking the bucket is providing an unexpected financial windfall.
@jrs100000 You’ll note I said “princes and princesses of the top 10%”. As in top 10% of households by income.
Those Millennials are set.
The middle class Millennials are now starting to inherit property.
And the working class Millennials? Screwed.