The wealth gap in Australia is widening, threatening the country's social mobility, economic equality, and faith in the 'fair go'. The explosion of house prices has made inheritances a lifeline for many younger Australians, while others are banking on them to accumulate wealth. Economists warn that this great intergenerational wealth transfer is one of the biggest challenges the country will face over the coming decades, potentially compromising equality of opportunity and social cohesion. The article explores the impact of this wealth transfer on younger generations, the middle class, and the country's faith in democracy. It also examines the role of inheritance in home ownership and the potential consequences of growing inequality.
