Brit report says you’re likely wealthier if born before 1980

U.K.-based think tank argues that housing is the great unequalizer

Wealth inequality hits millennials hardest

Only in Britain? A new report says Brits born 1981 to 1985 would be wealthier if they had been born just five years earlier.

This wealth inequality also affects the baby boomers at the younger end of the scale: those born between 1956 and 1960. Those boomers have 7 per cent less wealth as those born just five years before them. The report, from the think tank Resolution Foundation, shows that wealth accumulation has reversed for all those born after 1955.

Why? It appears housing is the main problem. Anyone who bought a home during the property boom of the 1990s and early 2000s has watched as the value of their property increased dramatically. But as rising property prices enriched those older generations, that increase has priced out younger Brits from home ownership.

Closer to home, British Columbian millennials are facing similar struggles in housing, but with a twist: those who have the money still can’t find a home, townhouse or condo that is near work, with enough space, and at their price point.

The upshot? The Resolution Foundation suggests that “the distribution and accumulation of wealth should take greater prominence in economic and policy debates.”