Study Highlights Decline in U.S. Social Mobility and Economic Inequality
A recent analysis reveals a significant decline in social mobility in the United States, with current generations experiencing less economic advancement compared to their predecessors. The study, conducted by sociologists Rob J. Gruijters, Zachary Van Winkle, and Anette E. Fasang, indicates that only 48.8% of millennials own homes by age 35, compared to 61.6% of late baby boomers. This decline is attributed to stagnant wages and increasing economic inequality, which have persisted since the late 1970s. The research underscores that the American Dream, characterized by the promise of upward mobility, is increasingly out of reach for many. The findings are supported by historical data showing that the income of the richest 1% has grown significantly faster than that of the lower income brackets, exacerbating the wealth gap. 
