This is the Cato Daily Podcast for Friday, April 19th, 2024.

I'm Caleb Brown.

When we compare the wealth of young people and how they're doing relative to previous generations,

there are many reasons to be optimistic.

Economist Jeremy Horpidol shares that optimism with one big exception,

Housing.

And when it comes to boosting the trajectory for wealth accumulation, housing is a big

component.

We spoke last month in Dallas.

There are a lot of conversations about the relative wealth of age cohorts in the United States of America.

So we look at the silent generation.

Joe Biden is a member of the silent generation.

He is not in fact a baby boomer.

He's too old. News Flash. He's too old to be a boomer.

Baby boomers. Gen X.

millennials. And apologies to the younger people etc.

So when we understand that we can look at data of wealth and wealth tends to increase as you age as you get older because you've developed skills.

You've purchased assets, assets that go up in value, not to be confused with things like cars. When we look at that there are a lot of

misconceptions that people have about the relative wealth of these age cohorts and

whether or not for example you or I are doing better than our parents did 20 plus years ago when they were our age.

I guess that's a valuable benchmark to some extent being able to look at how

were your parents doing? Are you doing better or worse than your parents did at a

...