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How much of this is because older generations had a lot of Covid deaths? Presumably those assets were passed down.


Not much. The article says 1Q 2019 to 3Q 2022 is the cited timespan. Covid accounted for less than 10% of overall deaths in that period, and many would have passed away anyway in that time (the average remaining life expectancy of a Covid death was something like 9 to 18 months by different surveys I saw.)

Covid was probably a factor in the numbers, though; young people were both locked inside and couldn't go out to spend money, and also were handed free money by the government.

Although that's probably a small effect too. I'd guess the largest real reasons are the increasing minimum wages in many states, and the decline in starting families and raising (expensive) children.


Where are you getting 9 to 18 months? Everything I’ve seen suggests 10 years:

https://abcnews.go.com/amp/Health/people-coronavirus-dying-1...

> Using a statistical measure called "years of life lost," researchers found that COVID-19 strips more than a decade away from a person's life, on average. For men, the viral infection takes away about 13 years of potential life lived. For women, it's more like 11 years. Both numbers account for underlying long-term conditions.




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