Young adults with middle incomes are considerably less likely to own their own home than those born 20 years earlier, new figures show.
Quote from Nigel Holland:
“It is of no surprise that the percentage of home owners ranging from the ages of 25 to 34 has dropped. As the prices fly up, so should the income of those paying for the house however this is not the case. The IFS said that “during 2015-16, 25 to 34 year olds were faced by an average regional house price of at least four times their income” resulting in a decrease in the amount of home owners. It hard for young adults to be able to find the capital to pay for a home when the cost of them is continuously and rapidly increasing, forcing them to stay at home and live with their family whilst trying to find the capital.”