How the Housing Market Screwed Young People

If we drill down into the data of the UK's housing crisis, it's clear that young people face the most difficult challenges when trying to get on the property ladder. So in this video, we break down what's behind the generational inequality in the UK.

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[leondonald]

Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.

[taipizzalord]

Housing and rent must be addressed if the Tories want to have any social constituency under 45 y/o. Young people are sick of giving their Landlord half their income. This is the main reason why people are turning against neoliberalism. The commodification of housing and it's subsequent insecurity has been disaster for the human race. It is also causing serious resentment from the young to the older generations.

[officialj-danproductions]

They say you become more conservative when you age. Yet this shows there’s a luxury to be conservative if you have things to conserve, in which this government actions has denied that right for us young people.

[robertgrant]

The housing market is basically a massive inter generational wealth transfer from younger people to older people. It’s utterly unsustainable.

[decus]

As someone from the UK, I can attest that it is most definitely possible to get onto the housing ladder. All you have to do is what I did... move to a different country!

[Dwh-h]

As someone who’s trying to get on the housing ladder, it’s always good to see the tories not giving a shit about us 👍

[hyperkris-qz]

I'm 32 and managed to buy my home on my own. That's not me bragging and being out of touch. Some of the sacrifices I made included being in a house share until I was 31, not owning a car until I was 32, not going out and minimised my spending, worked up to 70 hours per week consistently, not having kids.

Yes it is achievable, but some of the sacrifices it takes are just not reasonable. I lived very uncomfortably for years. If I had a child, partner or dependent it would not be feasible. The expectations for what people should do are so out of touch.

[tobiaskilroy]

As a 40 year old with a young family, our monthly rent is astronomical. If we could afford a 25-30% deposit on a home, our current monthly rent could easily cover mortgage payments, but with the high rent we can’t save for a deposit. Catch-22. I’m now getting used to the fact that we’ll never own our own home. It hurts though when people 5-10 years older than us are now almost mortgage free.

[butterflysrage]

this is the fifth "once in a lifetime recession" I've been through.

[archiemcdougald]

Banks are screwed, Real Estates screwed, stocks screwed, what do young people now do with their spare income?

[Buggylt]

Bursted out laughing when he said they have Michael Gove on the job. God save Brexit.

[trev]

"one of our most capable ministers, Michael Gove", wow.

[irondude]

The most powerfully depressing thing you can hear from young people is: “I know I will be less happy and successful than my parents.”

[rekkhar]

I've rented 6 different places in a span of 8 years. And NONE of the landlords/property owners are residents of the UK. A lot of my friends can never afford to own properties in their lifetime but non residents are benefitting from this.

[treyshaffer]

I'm a software engineer and my partner is a psychologist, and we honestly have very little hope that we'll ever be able to afford to buy a home. It sucks when we've both made so many sacrifices throughout our 20's to develop our careers and it doesn't even matter because our landlord takes such a massive chunk. Makes me just want to do some easier job if it's all pointless anyhow

[freewillgeorge]

'one of our most capable ministers: Micheal Gove'
I snorted my fucking tea

[pitonsti]

I'm 36 and a father of two. What I see and hear is only how this painful issue will keep my family's life miserable. No solutions on the horizon whatsoever.

[lorthree]

I am 36 and live with my partner (couldn't even afford to rent privately if we weren't a couple). We are the have-nots. Both parents live in social housing and despite being on the social housing list for years we aren't moving up the list. We both work hard and it's gutting having to move every 6 months - 2years. I even have to make sure i keep a week of annual leave back each year just in case we have to move again.

It affects your mental health and you can not really call anywhere a home. I just want long term stability. I don't think that is too much to ask. I try not to become bitter about it, but it is hard sometimes. There is no way i could raise kids like this so we have both decided we won't have any. I hope for future generations, like my nieces, things improve for their sake.

[strafo]

as an Italian under 30 I tell you. welcome to our world! here practically nobody is able to buy a house without the help of their parents. low wages, high rents and no career prospects have led to a generation that no longer has children. the positive side is that sooner or later there will be so few of us that inevitably there will be places for everyone :D

[adamhotski]

I remember pulling 48-hour + work weeks with exhausting 16-hour door-to-door days (travel) as a security guard in 2019/20. It was hard not to be bitter about the fact that I'd have to fork out 55% + of my take home JUST to rent a one-bed apartment nowhere special (or close). Honestly just feels impossible to have any real peace of mind when a supposed human right is astronomically expensive and dependent on you fighting like hell for a "lucrative" opportunity and/or skimping like a lunatic.