Mark Wadsworth

This is a spare 'blog in case my main 'blog at markwadsworth.blogspot.com isn't working

Another Home-Owner-Ist Milestone!

From moneyextra.com: “According to the English Housing Survey, only 11 per cent of those who own a house are under the age of 35.”

According to the ONS Population Pyramid, there are 12.7 million people in the UK aged 20 to 34, according to the English Housing Survey itself, there are 14.5 million owner-occupier households in England, which equates to about 17.3 for the whole of the UK.

17.3 million x 11 per cent = 1.9 million households, let’s assume it’s half single people and half couples who own jointly, so that’s 2.9 million people, 2.9 million divided by 12.7 million = 0.23, i.e. only about 23% of under-35s own their own home, and as they probably have staggeringly large mortgages, in reality they own nothing at all. Nice to see all that wealth cascading up the generations!

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