#21: Buying a House
In the evolving landscape of adulthood, it’s becoming increasingly common for young adults to nest back with their parents after university, largely due to the overwhelming burden of student loans. This financial strain has rendered the dream of homeownership a far-off luxury for many millennials, prompting a shift towards more flexible living arrangements like shared spaces and apartments over the traditional home.
The homeownership rate amongst millennials has dipped to record lows, lagging nearly 8% behind baby boomers. Despite this, innovative pathways to owning a home, such as shared ownership schemes or hybrid rent-to-buy options, are emerging to offer a glimmer of hope for aspiring homeowners who are financially positioned to take that leap.