I see. I imagined something like that. It's weird to look at nominal valuations in this way. Where US asset classes may seem wildly different, I suppose much of the valuation could be seen as 500% increase in property or the 500% decrease in purchasing power. Then there are larger property markets (PR.China where after 70 years the lease returns to the state.) I guess that knowledge is nothing new to people here.

Thanks, was just curious. I picture Portugal as a place with coastline, culture and weather as a form of wealth.

I don't have any figures to compare with, but my perception of millennials in Portugal is that most of them don't have any investments because their incomes are not enough. Those who can afford to buy a house do so with a loan or invest in government debt.