The Financial Post reports in its Wednesday edition that millennials' wealth has been falling further behind other generations, new data show. The Post's Serah Louis writes that over the past year, millennial households have seen their wealth drop 6.48 per cent to $493,423 per household, according to Statistics Canada's second quarter data. In comparison, Generation X, baby boomer and pre-1946 households became even wealthier, with their net worth growing to $1,485,654, $1,397,609 and $528,699, respectively. Millennials were also the only generation that saw their financial assets decline, slipping by 0.27 per cent year-over-year to $241,958 per household, compared with all households, which saw a 5.32-per-cent increase. It is primarily real estate that has caused millennials' net worths to tumble. The data showed millennials' real estate assets have plunged nearly 9 per cent since last year, compared with the 2-per-cent drop across all households. TD Bank economist Maria Solovieva pointed to recently changing home values having a disproportionate impact on millennials: Those who purchased homes when interest rates were low, in 2020 and 2021, have seen their homes' values decline since the first quarter of 2022.