Intergenerational Report charts falling fertility, aging population and housing divide

Home ownership rates among young people are lower than in the 1980s. ( ABC News: John Gunn )

Australia's latest Intergenerational Report shows younger generations are working longer and finding it harder to build wealth and buy a home than those before them.

Falling fertility and an aging population are also expected to reshape the economy and put greater pressure on government spending in the next 40 years.

Treasurer Jim Chalmers says the government is tackling these challenges through housing tax changes and measures to boost Australia's workforce, skills and productivity.

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Younger Australians face working longer and struggling more to buy a home without the same early gains in income and wealth experienced by the generations before them.