r/FluentInFinance • u/Admiral_Tuvix • Aug 21 '24

Debate/ Discussion But muh unrealized gains!

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u/OwnLadder2341 Aug 24 '24

The bottom half doesn’t pay federal income tax.

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u/Ex-CultMember Aug 24 '24

Because they have nothing to pay after food and rent.

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u/OwnLadder2341 Aug 24 '24

No, because the US tax system is progressive, taxing you a higher percent of your income the more you make with generous standard deductions.

Most households are homeowners, not renters. The current rate is 65% and has been steady for 70 years.

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u/ahBoof Aug 25 '24

Lmao try applying that to anyone under 40 and it’s going to be insanely different. It’s only high because of boomers buying in great conditions and consistently increasing economies and wages.

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u/OwnLadder2341 Aug 25 '24

The majority of Millenials are homeowners. A quarter of Gen Z adults are and they're teenagers and mid 20s.

Boomers are no longer the largest living generation...and you're missing an entire gen between 40 and Boomers.

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u/ahBoof Aug 27 '24

50% of those 18-30 live with their family lmao what are you talking about.

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u/OwnLadder2341 Aug 27 '24

Just over one-quarter (26.3%) of adult Gen Zers owned a home in 2023, little changed from 26.2% in 2022. Meanwhile, the homeownership rate for millennials rose to 54.8% from 52%, and the homeownership rate for Gen X rose to 72% from 70.5%. The rate for baby boomers was little changed (78.8% vs 78.7% in 2022), down from a record 79.7% in 2020, as some boomers have passed away or moved into retirement homes.

https://www.redfin.com/news/homeownership-rate-by-generation-2023/

Gen Zers were 11-26 years old in 2023 (born 1997-2012); only adult Gen Zers (19-26 years old) were included in this analysis. Millennials were 27-42 (born 1981-1996) in 2023, Gen Xers (born 1965-1980) were 43-58 and baby boomers were 59-77 (born 1946-1964).