- by foxnews
- 28 Nov 2024
Booming house prices driving massive increase in size of inheritances to $120bn a year
Booming house prices driving massive increase in size of inheritances to $120bn a year
- by theguardian
- 07 Dec 2021
- in news
1.8 k views
Housing wealth represents about half the wealth of people aged 30 to 59, but 54% for those aged 60 to 99 in 2018, set to increase to 66% by 2048.
Inheritance of real estate is tipped to reach about $100bn in 2019 dollars in the year 2035, assuming house prices rise in line with inflation.
The report found that asset price growth itself, particularly for housing, has a much greater impact on wealth inequality than inheritances.
Australia has experienced a boom in house prices, with double-digit annual growth in many cities in the past two years, only expected to contract in 2023 with rising interest rates.
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