Australia is approaching a massive $5.4 trillion intergenerational wealth transfer as baby boomers pass assets to their heirs, a shift that economists warn will exacerbate social mobility and economic inequality. With more than half of personal wealth tied up in property, the “Bank of Mum and Dad” has become a primary driver of home ownership, leaving those without wealthy parents increasingly locked out of the market. This growing divide within younger generations threatens the traditional Australian concept of the “fair go” and could lead to a decline in social cohesion and trust in democratic institutions.
Date: February 15, 2026. Summary: theguardian.com