How well-off your parents are may determine how likely you are to get ahead in New Zealand, as a generational wealth gap widens. A housing crisis that is now in its second decade has lurched into a full-blown generational wealth and wellbeing crisis, data collated by Treasury shows. Economic commentators say the data also points to an increasing class divide, where ‘dynastic wealth’ determines younger New Zealanders’ future prospects. Sungmi Kim/Stuff A housing crisis that is now in its second decade has lurched into a full-blown generational wealth and wellbeing crisis, data collated by Treasury shows. But if you get really massive wealth imbalances then things start to break down.”However, Rashbrooke says focusing too much on the generational wealth gap risks missing the increasing wealth disparities within every age group.

Source: Stuff April 30, 2022 22:56 UTC