The Phaserl


Millennials that are thriving in this economy are those with links to rich parents

The vast majority of other Millennials are mired in debt and unable to purchase homes.


Most young Americans are still living in an economy that feels like it is in a recession.  Yet there are Millennials that are doing well and are thriving in this economy.  How are they escaping mountains of student debt?  How are they gaining access to down payments to purchase more expensive homes?  The short answer is that they have rich parents.  This isn’t some Trumpism.  This is merely facts that are coming out of research from the Fed, Census, and Zillow.  For the vast majority of young Americans the last decade has been one of low wage labor and a market mired with very expensive colleges.  Despite the disappearing middle class many of those Millennials that are thriving are doing so thanks to familial wealth transfers.  We tend to romanticize the “self-made” person in the United States but it is increasingly becoming more difficult.  More wealth is accumulated in fewer hands and it is staying there.

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2 comments to Millennials that are thriving in this economy are those with links to rich parents

  • Ed_B

    A lot of millennials would not buy a home if they could afford one. Most have not a clue as to how to care for a home, keeping it secure, snug, and in good condition. They are part of the throw-away generation of renters, not owners. They use Uber, subways, and buses rather than owning a car. Unfortunately for many of them, it is ownership and not rentership that creates real wealth. They will discover this… one day but not this day.

    • glitter 1

      Right you are!My Nephew graduated from Rutgers with a BA in Mechanical Engineering w/ a minor in Math.He does have a job right out of school,but my Brother was telling me of a story with his son where the son asked if he could show/teach him how to change the oil in his car. Nuff Said! BTW I love my Nephew allot,he will come along ok,just a little late.

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