Boomers still rule U.S. real estate market, owning double what millennials do

A new study reveals a stark generational divide in American wealth—especially when it comes to real estate. Baby boomers now hold 40.9% of all U.S. real estate, nearly twice as much as millennials, who own just 20.4%.

The findings come from a report by Self Financial, which examined decades of Federal Reserve data to highlight long-standing wealth gaps between generations.

Boomers also own over $19.6 trillion in real estate, compared to $9.79 trillion for millennials. While Generation X—now in their late 40s to early 60s—owns 29.4%, they’re still trailing behind what boomers owned at the same age.

Boomers are still five times wealthier than millennials

The report found that baby boomers are collectively 5.2 times wealthier than millennials. They currently own more than half of the nation’s total wealth (51.7%), while millennials account for just 9.8%.

Even though millennials are doing better than Generation X did at age 35—by about 109%—they still face significant challenges building wealth. Skyrocketing home prices and changing job markets are key factors holding them back, researchers say.

Wealth isn’t spread equally

The study also points out that wealth is highly concentrated at the top. According to recent Congressional Budget Office data, the richest 10% of Americans control 60% of total wealth, while the bottom half holds just 6%.

Boomers’ wealth is mostly spread across real estate, equities, pensions, and private businesses. Millennials, on the other hand, have a much larger share of their net worth tied up in real estate—and far less in stocks and retirement savings.

By the numbers: real estate ownership by generation

The report concludes that even though younger generations are building wealth faster than previous generations at the same age, the overall gap between generations remains wide—especially when it comes to housing.

You can view the full report and methodology at: https://www.self.inc/info/generational-wealth-gap/

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