Trillions in Real Estate Will Be Passed Down to Generation X & Millennials

“Wealth is not about having money. It’s about having control.”
— Robert Kiyosaki

A recent article in the Wall Street Journal (reposted on Realtor.com) says that Generation X and Millennials are poised to inherit massive amounts of real estate over the next decade as wealth moves from older generations to younger ones, a phenomenon often called the great wealth transfer. According to a Coldwell Banker Global Luxury report reviewed by the WSJ, roughly 1.2 million high-net-worth individuals (worth at least $5 million) will pass down more than $38 trillion in global assets, with Gen X and Millennials inheriting about $4.6 trillion in real estate, including around $2.4 trillion in the U.S. alone.

“Baby boomers and older Americans have spent decades amassing one of the largest concentrations of private wealth in history. Now, that wealth is starting to be passed down to the next generation, and it’s having a ripple effect across the high-end property market.”