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Three generations born between 1965 and 2012 are set to be the biggest beneficiaries of the trillions of dollars that will be passed down from baby boomers and other older generations, according to a new report.
Coldwell Banker says across the globe, $38.3 trillion will be passed down to Generation X, Millennials and Generation Z in the Great Wealth Transfer.
“Millennials will be inheriting the most of any generation over the course of the next 25 years, but Gen X will be first in line.”
In the US, about $17.3 trillion is expected to be passed down in the Great Wealth Transfer over the next decade.
Coldwell Banker further says that the three generations will collectively receive 95% of the total wealth that is set to be handed down.
Citing data from global wealth intelligence firm Altrata, Coldwell Banker says more than a tenth of that wealth will be in the form of real estate. In the US, Generation X, millennials and Generation Z will receive more than half of the global real estate wealth that is set to be passed down from baby boomers and other older generations.
“Of the $4.6 trillion in real estate projected to change hands worldwide over the next 10 years, nearly $2.4 trillion will trade in the U.S. alone — accounting for roughly 52% of all global real estate activity.”
