London — The income boom enjoyed by people born between 1966 and 1980 has turned to "bust" for the generation that followed them, according to a report published Monday. In an analysis of eight high-income countries, the Resolution Foundation think tank found that millennials in their early 30s had household incomes 4% lower on average than members of so-called generation X at the same age. Britain and Spain stand out. In the UK, generation X was 54% better off than baby boomers born between 1946 and 1965. By contrast, millennials, born between 1980 and 2000, had incomes just 6% higher than those of generation X at the same age. The UK is also notable for the fall in rates of home ownership. For millennials in their late 20s, the figure is 33% compared with 60% for baby boomers at the same age. Smaller declines are found in Australia and the US "It’s no secret that the financial crisis hit the vast majority of advanced economies hard, holding back millennial income progress in count...

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