Housing Shortage Forces Millions of Adults to Live With Parents

HAMISH_MCTAVISH

House Prices Force Adults To Live With Parents

The rising cost of buying a home means the 'clipped wing generation' are forced to remain with mum and dad.

Millions of young workers have been dubbed the "clipped wing generation" because they are forced to live with their parents by rising house prices.

Housing charity Shelter has published census data showing almost two million workers aged 20-34 in England alone - a quarter of the total - are living with parents or grandparents.

http://news.sky.com/story/1309194/house-prices-force-adults-to-live-with-parents

As usual, Shelter and the Media completely fail to address the real issue.

There simply aren't millions of spare houses for these millions of young adults to move into.

Which is why prices and rents are high.

The market is doing exactly what it is supposed to and rationing scarce goods through price.

Rents and house prices rise until millions are forced to stay at home with parents or share with friends. So ensuring the huge underlying demand drops to equalise with the very limited supply.

House prices are the symptom, the housing shortage is the cause.

Bantex_2

Overpopualtion could also be considered a factor.

PasturesNew

A lot of people in that age group would always have been at their parents' still. I left home when I was nearly 30 - to live in a caravan!

Bantex_2

I did have a mortgage before I was 30. One bed flat in south London and I was earning around average wage.

Jack_Johnson_the_acorn

Living longer with parents is the only option for the youth... I stayed at home until aged 25 wife was 24, luckily house prices in the north west aren't as badly affected by the housing shortage seen in London and south east.

CLAPTON

what about building more houses?

roddydogs

& in other news, its revealed the Pope is catholic.

HAMISH_MCTAVISH

CLAPTON wrote: »

what about building more houses?

Why would you want to do that?

Surely better to restrict mortgage lending. That way fewer people can buy. Fewer houses get built. And rents soar to record highs.

Oh......

Yes, I see your point.:o

CLAPTON

HAMISH_MCTAVISH wrote: »

Why would you want to do that?

Surely better to restrict mortgage lending. That way fewer people can buy. Fewer houses get built. And rents soar to record highs.

Oh......

Yes, I see your point.:o

I have several friends looking to buy second homes in Devon for cash who would welcome the lack of competition.

Generali

Culturally I think the UK is finally coming to accept that lots and lots of houses are needed to be built, even if that means accepting building near them.

I'm sure that there are still many NIMBYs who will make the local paper but TBH I think the housing crisis has gotten so bad that people can't ignore it. If we work on the premise that Baby Boomers hold the democratic power in the UK (something I don't subscribe to) then the OP's point that people are remaining in the family home for a decade or more after they should have moved out is a powerful persuader.

I love my kids dearly but I also want them to go out into the world when they are ready and make their own way. It would be fantastic to have them around but even better for them to come over for dinner once a week so they can tell me how amazing their lives are.

lukeh23

Well at least they have their iPads, smartphones and Nike trainers.