Locked out: Why young Europeans can’t afford to buy homes
Euronews Business examines how homeownership rates among younger Europeans have changed compared with previous generations, and what is driving the shift.
Europe is currently grappling with a housing crisis that is particularly challenging for younger generations. A key indicator of this trend is the declining homeownership rates among young Europeans, as revealed by the OECD's 'Mapping trends and gaps in household wealth across OECD countries' report. This decline is evident across several generations and age groups.
For instance, the homeownership rate for those born in 1975 dropped from 60% at age 32 to 52% at age 36. Similarly, the rate for the 1980 birth cohort fell from 58% to 60% by age 36. This suggests that younger generations are experiencing more difficulty achieving homeownership compared to their predecessors. The report also highlights that higher tertiary education enrolment may have delayed entry into the labor market and the transition to independent living, further contributing to the homeownership decline.
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