If that was true, you'd expect the younger professionals of today would have comparative amounts of wealth to the boomers when they were young professionals. It's absolutely not the case. Each generation is getting poorer and poorer as they hit the same benchmarks.
This tracks with broad trends of wealth inequality increasing as well.
So no, it's not just "they haven't accumulated yet", because it's not clear they will have the opportunity to do so.
Boomers had a lot more sibling and lot smaller inheritances coming to them. Kids these days will inherit a lot more and share a lot less with siblings.
> you'd expect the younger professionals of today would have comparative amounts of wealth to the boomers when they were young professionals. It's absolutely not the case
Source? The data I’ve seen indicate the median millennial is wealthier than the median boomer was at their age.
The point isn't comparing boomers and younger generations buying diamonds NOW, but when they marry. Boomers typically don't wait till they're 60 to get married.
People accumulate wealth over a life time of work. It would be entirely expect that younger generations have less wealth than older generations.