Generational Divide: Millennials Face Homeownership and Marriage Challenges, Cambridge Study Reveals

A study conducted by researchers from the University of Cambridge, Humboldt University Berlin, and Sciences Po reveals that there is a growing wealth gap between millennials and baby boomers. Millennials are less likely to enter high-status occupations and more likely to work in low-skilled service jobs, resulting in economic disadvantage compared to boomers with similar career trajectories. They are also less likely to own homes and more likely to have debt outweighing their assets. However, middle-class millennials have accumulated more wealth than their boomer counterparts. Millennials also tend to delay marriage and childbirth, with a decline in marriage rates over the years. The study suggests that the wealth gap is not solely driven by different life choices and calls for measures such as progressive wealth taxation and universal health insurance to address the issue of extreme wealth inequality.