Rogé Karma

you actually see a huge drop in the aggregate amount of wealth that this generation has to the point where actually still it's its highest on record.

So it still does not... It's still higher than other generations at this age, but it's barely higher.

And it's actually around the same rate that young people had at the turn of the century.

So it actually hasn't gone up that much.

So again, I don't think either of these points...

totally disrupt the overall story that you're telling.

But I think it complicates it because it means that there are, within a generation, there are multiple stories you could tell.

There are homeowners and non-homeowners.

There are people living with their parents and not.

And sometimes when we take these big aggregate looks and say like, what's happening with the young people, we could be missing these very specific stories that are hiding in the data.

That might have been a sermon, but I think it was a pretty great sermon, Derek.

I agree with a lot of that.

And I will say another way of putting this is that I think we are so often asked as journalists, again, find the statistics that show that the people are wrong.

Yes.

And something I've actually started doing is try to ask the question,

What might people be experiencing that our statistics don't have good ways of capturing?

And I actually think there are two big ones that we've circled a lot in this conversation and that make the pessimism today make a lot more sense to me, at least.

And I'd be very interested in what you think about these.

I'll call them stuckness and uncertainty.

So, stuckness.