Today’s young adults will find it harder to accumulate wealth of their own than previous generations did according to a briefing note published by the Institute for Fiscal Studies (IFS).

This is primarily due to the sharp fall in homeownership, the dramatic decline of defined benefit pensions in the private sector and the stagnation in household incomes. 

According to the IFS, these trends mean inherited wealth is likely to play a more important role in determining the lifetime economic resources of younger generations, with important implications for inequality and social mobility.

At the same time, toda...