The Challenges of Homeownership from Boomers to Millennials
How has the dream of homeownership has shifted dramatically over generations?
➡️ Back in 1999, a median house cost £70,000.
➡️ Today, that figure has quadrupled to £285,000.
Meanwhile, wages haven't kept pace.
Homes are nearly 8.8 times the average salary for a 35-year-old millennial in the UK, compared to just 4.2 times for baby boomers in the early '90s.
Add in the modern burden of student loans, with graduates now shouldering an average of £45,000 in debt.
Who benefits from the disparity? Older homeowners.
They are prospering in a market supported by low interest rates, which have, at the same time, caused wages to stagnate.
How do we reconcile these growing inequalities in housing?
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