White Millennials are about to start inheriting a lot of money…

[Mr. Glass]

Big facts.

I’m in escrow right now for a house in Inglewood for around a mill. It was a foreclosure after the older black woman who owned it died and left her kids with the reverse mortgage.

Luckily, I’m black, but I know whites are scooping houses all over the neighborhood.

A year later and the neighborhood has continued to change. The Ladera Heights/North Inglewood area is turning white and asian right before our eyes, (we have houses listed in 3 mill range now). The great caveat is my house is worth around 1.5 mill now, and I paid just under a mill for it in April of 2022.

 

[dora_da_destroyer]

we're lucky to have two homes that will be passed down, but that pales in the face of my white colleagues where they have homes, cash and stock investments coming down. boomers collected so many assets and lived through multiple booms, those white families who already started out ahead about to

 

[IIVI]

While this is true, it shouldn't change anything - keep grinding for yourself. Keep building up your skills.

People come here with nothing, earn a home and pass it down - focus on that.

Don't focus on what you don't have, focus on what's there to be earned.

 

[RickyDiBiase]

While this is true, it shouldn't change anything - keep grinding for yourself. Keep building up your skills.

People come here with nothing, earn a home and pass it down, focus on that.

Don't focus on what you don't have, focus on what's there to be earned.

They not trying to hear you breh. Levelheadedness is a lost art form these days

 

[Kornball The Conqueror]

this is why i throw up when ever black folk say white people live check to check like them. There not telling you the grandparents are sitting on 900k worth of equity goofy

 

[3rdWorld]

Old money shows you been having a long term plan..

 

[perfectblack999]

Old money shows you been having a long term plan..

You mean that your ancestors had a long term plan? Lol

 

[OfTheCross]

Brehs, it's happening. Big piece in the NYT today about it and how it will widen the racial wealth gap.

Yeah.. This is not a concern. Top 10

Brehs, it's happening. Big piece in the NYT today about it and how it will widen the racial wealth gap.

This is not a concern.

 

[Originalman]

While this is true, it shouldn't change anything - keep grinding for yourself. Keep building up your skills.

People come here with nothing, earn a home and pass it down - focus on that.

Don't focus on what you don't have, focus on what's there to be earned.

 

[CBalla]

Alot of yall lil white friends about to become conservative

 

[Left.A1]

I would assume that a lot of these inheritors were already living a life of privilege due to their existing familial wealth

 

[1thouwow]

I would assume that a lot of these inheritors were already living a life of privilege due to their existing familial wealth

nikkas always got excuses.

 

[Left.A1]

nikkas always got excuses.

Excuses for what

 

[Alvin]

Hey if you’re parents took care of business then you should be on the come up too ….i stand to inherit my parents house and my grandparents house…plus I won’t get into how much my own house is worth…my wife is also inheriting a 3 bd/2 bath in Crown Heights…it ain’t Jim Crow south anymore folks…take care of business, no more excuses

With income inequality and redlining I don't think you know how big of a deal this is, this will only widen the gap and widen it considerably.

 

[lib123]

this is why i throw up when ever black folk say white people live check to check like them. There not telling you the grandparents are sitting on 900k worth of equity goofy

Lol there are millions of broke white people. But yeah, there are also many who are set to inherit assets. But as the recent NYT article points out, many will see their inheritances eroded by inflation, rising healthcare costs, taking care of aging parents, etc.