People born in the 1980s are only half as wealthy as the children of the 1970s were at the same stage in their lives, according to the Institute for Fiscal Studies.
The average net household wealth of people born in the 1980s and in their early 30s totalled £27,000, well below the £53,000 that 1970s’ children had at the same stage.
The IFS noted that home ownership among those born in the 1980s was just 40%, as rising property prices and flat income levels made it harder for people to buy. The percentage among those born in the 1950s, 1960s and 1970s was 55%.
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