Study Reports That Millennials Have Less Resources for Home Purchases Than Gen X

According to a report from the Resolution Foundation, Millennials earn less than the previous generation. In a study of eight high-income countries, people born between 1980 and 2000 have an average household income of 4% less than Generation X did at the same age. The discrepancy is even more extreme in Spain and the UK, which have experienced generational “boom and bust” periods; UK millennials have seen “a deterioration in most measures of living standards,” following a long post-war boom, said Bloomberg, citing the study. The noted discrepency is apparent in the housing market - while incomes have dropped from generation to generation, housing prices have dramatically increased during that time in the majority of world markets.