Quick thread on Millennial wealth inequality.

A Gini coefficient is a measure of wealth inequality. The higher the number, the higher the level of inequality.

Canada’s boomers has a Gini of 36.

Canada’s millennials? 44.37.

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2/ That sounds pretty bad, right? For context, Rwanda is estimated to be a 40.

Yes, Canadian millennials have wealth inequality similar to people in Rwanda.

Canadians may have more money, but the gap between the rich and poor is really wide.

3/ Okay, but like... the US is 48. At least it’s not as bad as America, right?!

Well, it might be. See, sometimes countries seem worse, because they’re more transparent about their short coming.

@WIL_inequality ranks Canada as less transparent than the US for inequality data.

4/ Shit, well that sounds bad. You don’t even know the half of it.

That’s just *income.* We’re excluding a lot of wealth, including intergenerational wealth, offshore assets, and beneficial ownerships.

Sure, if you don’t include wealthy people’s asset, inequality is really low.

5/ ’s Millennials are way worse off than Boomers

Not a debate. There’s data.

Now, why are ’s Millennials fine with moving to the , while Boomers think is superior?

Because Millennials face the same inequality in the US, but with fewer class mobility barriers.

6/ BTW, this isn’t a “Canada and Boomers are bad.” rant.

I get DMs from Millennials asking, “was housing hard for your generation?”

1. I’m the same generation. So fuck you.

2. No. It wasn’t. Both of our situations are not unusual though. This is what inequality looks like.