Gen X and Millennials Will Inherit Trillions in Real Estate Over the Next Decade

[Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.]

Baby boomers and older Americans have spent decades amassing one of the largest concentrations of private wealth in history. Now, that wealth is starting to be passed down to the next generation—and it’s having a ripple effect across the high-end property market.

Over the next decade, roughly 1.2 million individuals with net worths of $5 million or more are projected to pass down more than $38 trillion globally, according to a new report from brokerage Coldwell Banker Global Luxury reviewed exclusively by The Wall Street Journal.

Real estate is poised to play a significant role in the great wealth transfer. Gen Xers and Millennials are set to inherit $4.6 trillion in global real estate over the next 10 years, according to the report, which incorporated data from research firms Altrata and Cerulli Associates. Nearly $2.4 trillion of that property is located in the U.S.

Real-estate brokers, attorneys and family offices say they are already seeing profound changes in who buys luxury homes and how purchases are structured. High-net-worth families are bringing children into conversations about inheritance earlier and making high-stakes real-estate decisions sooner.

For more information see Katherine Clarke “Gen X and Millennials Will Inherit Trillions in Real Estate Over the Next Decade,” The Wall Street Journal, January 15, 2026.