Sharp and growing intergenerational differences over housing, income and work will be key a feature of the 2020s. Younger generations are expected to be at the sharp end of a less secure labour market and the housing crisis. By contrast, as owner-occupier status increases among older cohorts, many pensioners will become ‘ordinarily’ wealthy. Politically, this could sharpen the demand for a more active state in redressing housing concerns, while also increasing the political importance of policies around the fair distribution of wealth, assets, benefits and pensions.