The Briefing Room Are the old robbing the young?
Dec 4, 2025
Join Sophie Hale, a Principal Economist at the Resolution Foundation, along with Professor Bobby Duffy from King’s College London, Senior Research Economist Xiaowei Xu, and Professor Jane Falkingham from the University of Southampton. They dive into the generational divide, revealing how baby boomers benefited from post-war assets while Gen X and millennials grapple with stagnant wages and housing crises. The guests also discuss public perceptions of intergenerational inequality, wealth concentration, and propose solutions like housing reforms and 'citizen's inheritances' to bridge the gap.
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Boomers Benefited From Postwar Wealth Surge
- Baby boomers benefited from rapid post-war income growth and big passive wealth gains.
- They profited especially from rising house prices and generous defined-benefit pensions.
Gen X Lost Momentum After 2008
- Gen X faced stalled income growth after the financial crisis and weaker pension coverage.
- Homeownership fell and house price-to-income ratios rose, squeezing their wealth-building.
Millennials Face Stagnant Wages And Housing Crisis
- Millennials have spent most of their careers after the financial crisis and seen little income progress.
- They face heavy student debt and much worse housing affordability than earlier cohorts.