Australia’s inter-generational divide is centred on housing

Tony Walker, columnist at Fairfax, has done a good job dissecting the resentment towards the baby boomer generation, which has ridden Australia’s long housing boom at the expense of their children and grandchildren:

A lucky generation in a lucky country in danger of scorching its dumb luck has had bestowed on itself the sort of once-in-a-hundred-year windfall that is unlikely to be repeated in all our lifetimes, Millennials included.

The housing boom is the Baby Boomer Klondike. I’m talking about a period of supercharged wealth accumulation that has produced the sort of intergenerational-riches bulge that has distorted the benefits of a record-setting economic expansion to the advantage of one generation and the disadvantage of others…

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