Millennial home ownership lags sharply behind previous generatons. He's not saying that we have feudalism. He's arguing that is the direction the world is heading with increasing inequality. This video does a good job of explaining his views:
I particularly like his point about why homes have risen from 2-3x wages to 20-30x wages, this was a question I had always pondered about and could never find a good explanation for. The GINI data you posted is interesting but ends at 2018 and if I had to guess the pandemic has only worsened inequality. Asset prices such as homes have risen sharply putting them out of reach for many families.
Edit:
Looks like has worsened signficantly:
The United States’ Gini coefficient is .484, the highest it’s been in 50 years according to the U.S. Census Bureau. The U.S. has the highest Gini coefficient among the G7 nations. The top 1% of earners in the United States earn about 40 times more than the bottom 90% of earners.
https://youtu.be/ZXP8gH0wddE?t=386
I particularly like his point about why homes have risen from 2-3x wages to 20-30x wages, this was a question I had always pondered about and could never find a good explanation for. The GINI data you posted is interesting but ends at 2018 and if I had to guess the pandemic has only worsened inequality. Asset prices such as homes have risen sharply putting them out of reach for many families.
Edit:
Looks like has worsened signficantly:
The United States’ Gini coefficient is .484, the highest it’s been in 50 years according to the U.S. Census Bureau. The U.S. has the highest Gini coefficient among the G7 nations. The top 1% of earners in the United States earn about 40 times more than the bottom 90% of earners.
https://worldpopulationreview.com/country-rankings/income-in...