The generation gap is turning into a matter of money.
Between 1984 and 2009, the median net worth of an older house rose 42 percent, whereas younger households dropped by 68 percent, according to the Wall Street Journal. Though income rose by 27 percent to $49,145 in 2010 for younger households, the older households rose by 109 percent to $43,401.
Housing is a key factor in the growing gap. The older generations were part of a time when there was a run-up in home prices allowing them to accumulate wealth through home equity.
Most young homeowners bought homes when the bubble was inflating and many are now at risk of foreclosure.
Young people are experiencing a delay in entering the workforce because the older generation is staying in longer. Now, 16 percent of people ages 65 and older are employed compared to 10 percent in 1985.