ESRC Centre for Population Change and Connecting Generations

@cpc-cg.bsky.social

Improving understanding of the drivers & implications of population change & intergenerational connectivity. Funded by the Economic and Social Research Council (ESRC) UKRI, incl. Unis of Southampton, St Andrews, Stirling, Oxford, and Resolution Foundation.

Do we need to focus more on building affordable homes? Panel agrees that any increase in housing supply would be welcome Sam Richards warns that putting too much emphasis on affordable housing risks putting developers off building any homes. But there's a role for the public sector in this...

How to help Gen Z: Housing: - Starter Deposit Scheme - Increase Local Housing Allowance - Build more homes Work: - Expand mental health provision - Boost FE funding - Prioritise under 25 year olds for apprenticeship funding - Pause convergence between youth and adult minimum wage rates

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The news for Gen Z is less good when it comes to housing. Home ownership is miles out of reach. Remember, the majority of baby boomers were home owners by the age of 30. Barely one-in-four millennials on track to own by that age.

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Specifically older Gen Z (born in late 90s) are enjoying higher hourly pay rates. This is a consequence of the ramping of the minimum wage from 2016 onwards. Amidst all worry about min wage rates, let's not forget it's delivered a massive living standards boost to Gen Z...

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We correct for this by looking at disposable incomes at a benefit unit level, and before housing costs. Good news - people born in the late 90s are currently enjoying higher living standards than those born ten years earlier had at the same age. Things are less rosy for those born in early 2000s.

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Staying at home presents a challenge for measuring living standards - commonly done by looking disposable incomes after housing costs at a household level. A lot of the income growth gained by young people living at home is actually their parents' income.

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There are lots of reasons - positive or negative - why young adults are choosing to live with their parents for longer. But here's an obvious one, housing costs are way cheaper. Home ownership is miles out of reach, social renting isn't available and private renting consumes a third of all income

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