Young Britons' debt burden leaves assets in hands of older generation

Its report, Debt and the Generations, showed a further 893,000 people are at risk of getting into unmanageable debt, with under-40s seeing real incomes reducing and increasing difficult in saving for retirement. In particular, the CCCS highlighted that the debt burden, rising house prices and reducing income means young people will be unable to acquire assets in the same way as their parents and grandparents. Almost three-quarters of people aged 18 to 39 have unsecured debts, compared with around 60% of those in the 40 to 54 age group, the CCCS said. Younger households are more lik...