I should mention that Ella Getz Wold is the first author, and that the paper is written with Knut Are Aastveit, Ragnar Juelsrud, Gisle Natvik, and yours truly.

Also, the views expressed are ours and not necessarily those of Norges Bank or the Federal Reserve System

Result 4: We can use data to understand how parents support their kids. Unsurprisingly, most of it comes from transfers but we also document co-purchasing and intra-family sales (at an eye-popping average discount of $80,000) as important mechanisms 8/10

Result 3: What drives wealth persistence? Housing is important, and accounts for 27%! Households with richer parents are two percentage points (12%) more likely to be wealthy *due* to the impact of parental wealth on housing 7/10

Result 2: Having parents in the top 50% of wealth increases the probability that you will be in the top 50% by 15 percentage points. This is our benchmark measure for intergenerational wealth persistence. 6/10

Survey results: But whether parents can provide support depends on their wealth. From the surveys we learned what parents wants to do, next we want to know what they actually do (4/10)

New week, new housing chart.

Before 2000, about 15 percent of new American housing units were mobile homes. Since then? A touch above 6 percent, which is way above what I would have guessed.

New week, new housing chart. Did you know that the US is at record high levels of housing construction? The strength is largely driven by large multifamily buildings.

Wildest thing about the American economy I've learned after two years at the Federal Reserve: Almost 1% of US GDP is residential realtor commissions!

fred.stlouisfed.org/graph/?g=1b2IC

they were out of Old Fashioneds but I hope I my Amtrak Margarita still passes the Friday vibe check!