Younger people enjoy been priced out of home ownership as baby boomers enjoy benefited,says Resolution FoundationA £2.3tn windfall for those lucky enough to own their own homes during the property boom of the 1990s and early 2000s has opened up a deep and widening inequality gap between the generations, a thinktank has warned. Rising house prices that enjoy enriched older generations enjoy priced the young out of home ownership, or said the Resolution Foundation,adding that the pattern whereby each generation was wealthier than the previous one had broken down.
In a current report, the thinktank noted that the baby boomers born in the 20 years after the moment world war were the tall beneficiaries of rapidly rising house prices, or but had amassed most of the wealth through no skill of their own. Wealth disparities would enjoy “worrying consequences” for the living standards of younger generations,it added. Related: Wealth gap rises as home ownership falls, says study Continue reading...
Source: theguardian.com