The Daily Mail reports today that three million adults between the ages of 20 and 34 still live with parents and men are more likely to remain at home than women. With the national average cost of renting a home at £740 this news is hardly surprising.
These figures are based on a report issued in July by the National Housing Federation and figures from the Office for National Statistics.
The UK housing problem knows no divides either. Graduates are just as likely to return home to parents after studying, as this may be the only means they can work and save enough money for a deposit for their own home. Not only are graduates saddled with student debt, they also need to find work in their chosen expertise and attempt to find their own homes. Indeed, the UK Government is strongly supportive of parents' responsibilities towards their adult children. A responsibility which, it seems, may need to maintained for life.
It's difficult to know what the answer to the housing problem, certainly the so-called "bedroom tax" is causing divides in Parliament, together with outcry from affected members of the public. Whether the new tax actually releases any housing stock to relieve housing needs remains to be seen.
The Daily Mail points out that the average price of some properties in the London area is more than £1million. A quick look at the properties for sale on property site Rightmove though did reveal properties for sale at around £150,000 and studio flats from £90 per week rental, within a ten mile radius of London. With average graduate salaries in London at around £29,000 per annum, purchasing a small apartment with a friend or renting a studio flat does actually seem a viable option.
The question does seem to occur as to whether adult children of the modern generation possibly choose to stay at home or return home because their homes are more comfortable and they are likely to have their needs catered to. Could it be said that today's generation of young adults expects too much of its parents and is unwilling to strive for independence?
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