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Story summary
- Gen X households hold the highest property wealth, averaging $1.455 million.
- Baby boomers are downsizing, contributing to Gen X's wealth.
- Millennials, aged 29 to 44, average $890,000 in property wealth.
- Only about half of younger households own homes, risking long-term disadvantage.
- Rawnsley criticizes the first home buyer scheme for inflating demand and prices, while arguing that slightly higher home costs could help renters enter the market sooner.
