The Extraordinary Rise in the Wealth of Older American Households
16 days ago
- #homeownership
- #aging population
- #wealth inequality
- Significant increase in wealth for households aged 75 and over from 1983 to 2022.
- Decline in relative wealth for all other age groups during the same period.
- Key factors influencing wealth shifts: homeownership rate, stock holdings, and mortgage debt.
- Homeownership rate remained stable for the youngest group (35 and under) but increased for the oldest group (75 and over).
- Stock holdings rose for both age groups, but significantly more for the oldest households.
- Mortgage debt increased for both groups, with a larger relative rise for the youngest group.