[wintom]

> “Homeownership is a gerontopoly. Most housing wealth is held by older Americans.”

So what? They worked hard for that, that is in fact how wealth works. You work hard for a long time to build wealth and by the time your old you hopefully have something.

This whole article shits on older people and effectively blames them and home ownership for wealth inequality. It is the most obvious study ive seen but blaming people will not fix anything.

I will likely get downvotes for this but that is fair. We will all get old at some point and if we don’t have anything at that point we didn’t do it right.

Just stop blaming others for shit, get to work this is the best time on the history of the earth to get wealthy. Better than any other period of human history. Just get it done.

[barrkel]

What you musn't lose sight of is the effect of the prolonged low interest rate environment on asset prices. Money is cheaper to borrow so zero-sum competition for things like good schools drives prices up. The beneficiaries of this are older people who owned property before the low interest rate environment. The people who'll pay for it are those who are buying now, and will continue to pay well into the future. Thus the inter-generational transfer of unearned wealth.