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Spanish Millennials to Inherit More, Inequality to Rise
A study reveals that Spanish millennials stand to inherit significantly more than previous generations, but this wealth increase will likely exacerbate existing inequality.
Spanish
Spain
Labour MarketEconomicsInequalityDemographicsWealthInheritance
Afi Emilio Ontiveros Foundation
- What are the main findings of the study on inheritance in Spain?
- The study, "Demography, Housing and Wealth Gaps," by the Afi Emilio Ontiveros Foundation, projects that Spanish millennials (born 1980-1996) will inherit an average of \u20ac250,000, exceeding what Baby Boomers received.
- How will this increase in inherited wealth impact wealth inequality in Spain?
- The study highlights that this wealth increase won't be evenly distributed, exacerbating existing inequality. Those without family wealth will be at a disadvantage, particularly among immigrants, who are expected to comprise 40% of the 45-65 age group by 2042.
- How does real estate appreciation influence the projected inheritance amounts?
- The substantial increase in inheritance is further amplified by real estate appreciation, which has seen a considerable rise in value over the last two decades in Spain.
- What is the primary demographic factor contributing to increased inheritance amounts?
- The increased inheritance is primarily due to demographics: a smaller number of children per family, resulting in fewer inheritors and a concentration of wealth.
- What policy recommendations does the study offer to address the potential increase in wealth inequality?
- The report suggests that fiscal and redistributive measures, such as taxes on large inheritances and donations, along with policies promoting affordable housing, are needed to mitigate the widening wealth gap.