Millennials have paid £44,000 more rent than the baby boomers by the time they hit 30

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Housing, Wealth and Debt, Intergenerational Commission

Delivering the Prime Minister’s pledge to deal with ‘housing deficit’ is central to boosting younger generations’ living standards The combination of falling home ownership and rising costs in the private rented sector mean that today’s millennial generation will have spent £44,000 more on rent by the time they reach 30 compared to the baby boomers, … Continued

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Almost a third of all spending by under-30s goes on housing

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Housing, Wealth and Debt

Housing accounts for almost a third of all spending in households headed by someone under 30, compared to less than 20 per cent for those aged 50 to 74, the Resolution Foundation said in response to the latest ONS Family Spending Survey published this morning (Tuesday). The RF analysis of the latest ONS figures show … Continued

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Strategies to cope with high housing costs are running out of road for modest income families in many parts of Britain

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Housing, Wealth and Debt

The strategies available to help bring rent and mortgage costs within reach of modest income households – from sharing with other families to financial support from parents and moving into a lower quality property – often come at a high personal cost and look to be increasingly ineffective in many parts of the South of … Continued

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Close to 1.6 million UK households are ‘housing-pinched’ – spending more than half their disposable income on monthly rent or mortgage payments

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Housing, Wealth and Debt

Close to 1.6 million UK households – the housing pinched – are spending more than half their disposable income on the ongoing costs of housing each month, according to new analysis from the independent think tank the Resolution Foundation published today. Of the 1.6 million housing pinched, retired households and working age households in which … Continued

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Shared ownership more affordable than help to buy for low and modest income working families

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Housing, Wealth and Debt

A major expansion of newly built shared ownership could help low and modest income working families across the country onto the property ladder, while keeping their housing costs affordable, according to new analysis from independent think tank the Resolution Foundation. The report, One foot on the ladder, shows that shared ownership – where buyers purchase … Continued

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