Wednesday, July 15, 2015

Data on Millennials and economic progress

From Zillow we have the following data:


"Some people are born lucky, lucky enough to have parents able to help finance their higher education. And some people are doubly lucky, lucky enough to have parents able to help finance both their higher education and a down payment to buy a home."  That's the way Zillow puts it.  Economists have known this for a long time, but the rest of us have to learn it.  I still encounter the myth of the "self-made person" on a daily basis.

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