Owning A Home A Pipe Dream For Young Workers

The housing ladder is disappearing for most young working households on modest incomes. For this group home ownership is projected to be approaching just one-in-ten by 2025. While the biggest decline in young  families owning homes is for those on modest incomes, it has also fallen for young households that are benefit dependent or on higher  incomes. As a result home ownership is increasingly becoming the preserve of older and wealthier households. The analysis finds that those aged 65+ now account for around one-third (32 per cent) of all homeowners, up from less than one-quarter (23 per cent) in 1998 – an increase of 43 per cent. In contrast, those aged 16-34 account for just 10 per cent of homeowners, down from 19 per cent in 1998 – a 49 per cent reduction. Read more on the Resolution Foundation website.