David McWilliams: In Ireland, the old get richer and the young grow poorer
Inheriting wealth is not meritocratic, but in Ireland it’s still the quickest way to get rich
Getting a leg up: What is good for the individual is not always good for the collective. Photograph: Getty
If house prices are rising by 12 per cent per year yet wages are only rising by about a quarter of that rate, who is winning? Who gains and who loses from this disparity between house prices and wages?
In Ireland, the growing gap between house prices and wages drives wealth inequality and its byproduct, generational inequality.