a post by Matthew Whittaker for the Resolution Foundation blog
The return to work after Christmas is never easy. Unless you’re an estate agent: they love January. Following the pre-Christmas lull, families rush back into wanting to buy and sell their houses (helped in part by the traditional post-festivity spike in family breakdown). But for an increasing number of us, house hunting is becoming little more than an exercise in window shopping (or ‘property porn’ if you’d rather).
The share of the population owning a home has been falling since 2003, with particularly profound consequences for younger families. As the chart below shows, today’s 30 year olds (that is, the oldest members of the millennial generation born between 1981 and 2000) are only half as likely to own their house as their parents were at the same age.
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