this is one secret weapon boomers have had: equity. their children couldn't just buy a house and then randomly have tens of thousdands of dollars handed to them by the bank for no reason. i mean just imagine how life changing it would be to get handed 10 or 20k out of thin air because you "refinanced". this is a life-course altering amount of money. many millenials can't save that much in 10 years because of rent prices, but a boomer just got it handed to them for nothing and could invest in their own future. i remember my mother bragging about this, and it skewed my perception of money and life. it just seemed good things randomly happened and that money basically grew on trees. my father has multiple luxury cars and properties as a result of this (he worked in mortgages).
United States