Why Do So Many Young Europeans Still Live At Home?
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- เผยแพร่เมื่อ 1 มิ.ย. 2024
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Recent reports suggest that nearly half of young adults in Europe still live in their family home, with the fraction increasing over time. In this video, we look at why so many young adults still live at home, and what this trend means for Europe.
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1 - www.census.gov/content/dam/Ce...
2 - www.statista.com/statistics/2...
3 - ec.europa.eu/eurostat/web/pro...
4 - ec.europa.eu/eurostat/web/pro...
5 - eurocities.eu/latest/protect-...
6 - centraleuropeantimes.com/2023...
7 - www.statista.com/statistics/6...
00:00 - Introduction
00:44 - The Data
01:57 - The EU Housing Crisis
03:18 - Youth Unemployment
04:20 - Inflation and Cost of Living
05:14 - Social and Cultural Reasons
05:48 - What Next?
Because just existing is way too expensive nowadays!
Nailed it!
@@tripplefives1402 Inflation was never a problem despite printing money from 2010s onwards. It only appeared when energy prices skyrocket by lower supply than demand.
And food issues with grain etc from Ukraine. Tri fecta of printing money from lock downs, Supply issues (food, chips, spare parts) and raising prices of fuel / energy
But I thought high taxes to fund a socialist society was working!?
Is it social programs, or is it because housing stock is being purchased en masse by American, Chinese, and European corporations that either rent or hold with intent to sell as an asset? Is it affordable Healthcare, or is it Blackstone (a hint: one of these actually directly effect the housing market)
Unless something changes, I think we're heading to a future where we're seeing several generations living in a single home. This "get out as soon as you're adult" thing is a relatively modern idea.
In my family house 3 generations lived for years, I and my brothers lived with my parents, my grand-parents and a aunt in the same house for over 15 years, I left the house and moved to a neighbour house only when I married and had a kid, of course I built my own house with the savings i while living in family house. I'm free of morgage and with money for my retirment and travel.
But the "single home" is not getting bigger. That's the biggest problem. Several generations will be cramped into what's only really enough space for 2 parents and a few kids.
@@manwiththeredface7821 yes, but if u have more ppl living together, it means they can afford to pool money together for a bigger house. thats how my family does it. im mexican, so this is how its always been for me and my family here in the US. u could argue that it comes at the downside of privacy and stuff but at this point none of it matters if it means not being homeless
A very american idea
@@rasputindasilva858 in Italy hones in the countryside tend to be quite big, and often people divide them into apartments for their children to live in.
I'm so tired. I'm 30 years old living in Spain and everything is always a crisis. Housing crisis, inflation crisis, unemployment crisis, everything crisis. Is anything ever GOOD? Will anything ever just be going well???
This is a really toxic part of the news cycle and why I personally scaled back my active news consumption to follow the broad stories (through some news channels) but no longer read every headline. There is tons of really great things happening in the world... but that's not 'news'. News is clicks and panic and fear mostly (sadly). And with information around the globe there is always always some crisis to focus on and panic about if you want.
If you look at it in just a bit more of a broad context life is pretty good for a lot of us. We have to fear random disease striking us down much less, we live with near unlimited information and quality entertainment of almost any type available where ever we go, we can have any type of food we desire brought to us in less than an hour, we can travel this whole beautiful globe within hours and days... etc. you see where I'm going with this. Many of us live a lifestyle that only a few generations ago Kings and the elite of the elite would be envious of.
I'm not saying these 'crisis' are supposed to be ignored. They are real but we also choose to surround ourselves with crisis and fears and panic constantly. We feel we need to know everything, worry about everything, solve everything. There were thousands of problems when our parents were young. Heck our Grandparents lived during WW2... god know there were tons of problems. But the immediacy of direct problems like food shortage and the availability of information made them focus more on their life and surroundings. As our generation grows up with availability to so much knowledge and information we are the first who need to learn to actively decide what we want to learn and worry about instead of it happening passively. That's our challenge but it also means we have a choice. Life in general is MUCH better than it was 100 years ago though and it's also our choice if we want to enjoy that.
Bit of a rant but it hope it made sense 😉
Probably not until a fundamental change happens.
climate crisis, medicine crisis...
Isn't your inflation around 2%?
Propabbly, unemployment in Spain id decreasing, also Spain in 2022 and 2023 was one of the fastest growing economies in Europe.
The EU and the US needs to have a huge housing bubble crash when it comes to pricing. It absolutely outrageous that a rental is as much as a mortgage payment.
Yeah but in the EU it's technically impossible due to urbanised land shortage combined with extreme migration! And urbanising new territory isn't simple due to dramatic bureaucracy 😢
Nope, the government is going to fill those homes with immigrants from their zog wars. It's only going to get worse before it gets worse 🤗.
We should stop the housing market itself. As long as homes are commercial property the prices will go up. Even if the prices will fall, the people with money and power are incentivized to raise them again.
That won't happen as long as we have mass immigration. Hence why we won't ever see a crash
As long as there's huge demand, there won't be a crash. So the first priority is to either increase supply or reduce demand. Otherwise the "bubble" will not pop.
As a university student in Ireland, the prospect of anyone my age actually having a home in the foreseeable future is like a pipe dream 😔
Even with $130,000 GDP per capita? What are Irish houses made of? Gold?
@@inbb510Our GDP is really inflated because of Foreign Direct Investment, the money is counted in our GDP, but doesn’t make it into our economy.
I lived in ireland 15 years, i came back home i italy because its better living here. I think dublin is terrible for rents.
I'm afraid that your Government hates you (your generation) and doesn't care if you emigrate. It wants to replace you with immigrants from Africa, the Middle East and Asia. Why I don't know but that is their plan.
@@inbb510Cardboard.
I’m not European, but my uncle has received offers from many European countries to invest in real estate and houses.
They have turned Europe’s homes into globally traded commodities.
My family has turned down the offers.
Yeah as a french it happens a lot in places like the southern coutryside and brittany. In brittany it's wealthy parisians who buy vacation homes and in the southern countryside it's wealthy british.
@@malogibeaux4946 it will get better. I pray that all will be fine in the future for Europe.👍🏻👍🏻
That's honestly depressing.
Yes, that's exactly it - housing is god daym expensive in Europe!
That's inequality compounded with globalization
Rent is more expensive than paying off a mortgage, but I need to save up to +-40.000euros to be taken seriously by a bank (as a single person). And that’s to buy a home or crap apartment that will need major renovations. It’s insane.
they still won't take you serious, they'll just accept the mortgage because now they're pretty sure the house can be sold and they don't lose when you stop paying for any reason.
in your country. that's not true in most countries.
@@riskinhosit is true in most of Europe and the US
true... it's so bad@@SelfProclaimedEmperor
@@SelfProclaimedEmperor it's true in big high demand cities. That's where you are required to pay said premium. look to smaller towns, less popular areas, housing is affordable there. If you want big city amenities you are required to pay for it. that's how it has always been. A lot of the moaning about low housing supply is coming from increased demand towards best real estate there is... simply put: poor people want stuff they can't afford
I am 37 and it is quite impossible to pay half of my paycheck for rent & food and somehow try to save for my own appartment at the same time? Meanwhile my landlord owns 5 units while tenants including me give him money for even more units in the future. It's just a frustrating system.
In which city?
@@pb.j.1753 Bascially any city works that way currently
Technically speaking it's capitalism.
Can't blame the landlord for that.
I used to be a landlord. I worked my ass off everyday for 12 hrs several years to be able to buy a rental property, and I'm not a rich kid. It was my property and my right to charge as much as I wanted.
you are a cringelord @@Hfgh564
Governments paying attentions to the needs of young people? That sounds ridiculous.
They don’t, atleast not in Sweden. There is seemingly a culture in Sweden that only the most qualifyaböe people get hired, and then the government wonders why there is so much unemployment? It’s fucking ridiculous, i despise my country very much.
In my country doesn’t happen because the major voting base is old people so is easier to please the retired and the working old don’t want to change the status quo, we have 180 old people per 100 young people
Yeah. Young people don't vote. Why should we listen to them?
maybe because the parties only prioritize the older people, making the young ones feel excluded and not important politically. Old people should step aside.@@teelo12000
@@teelo12000 Vote? Even if young people would vote 100% there isn't enough young people to change election results anyway!
I live in Lisbon. average house rent: 1400€. minimum wage which +50% of the population earns: 820€
Portugal is an extreme case
Tbh Portugal and especially Lisbon made this happen with their politics. Now its a massive tech and crypto hub.
Is it though?@@carloandreaguilar5916
@@carloandreaguilar5916 And it proves the point. If you have nothing to say just shut up. Its still half a million people being affected by this.
@@bennymuller3379rent is too high everywhere
I am a 25 yeqr old Croatian, not a single friend I know who is under the age of 30 lives outside of their family home, some have their own apartment in the family house.
@@truthbringer2411 he clearly said that he's talking about people/friends HE KNOWS, so unless you know him personally as well, your comment is quite idiotic
so sad 😢😢😢😢
Exactly the ones that have “homes” is the first floor of the house or the garage turned into a house or annexes older young people got land for free from their parents and then only paid for their homes with loans of course, this is nothing new in my country my father got a house this way its a anexe, my uncle got land then built with foreign money,other got land from their father in law ect we are talking people oldest is 57?,only three in my family brought homes without free land or house,the younger ones or live with parents or have the first floor of the house or “garages” for themselves,im from Portugal btw , depends on your socioeconomic background and region but this is very common
I'm from Spain. I remember being younger and having contact with Swedes, Brits, Dutch... They all found it very amusing that I was in my early 20s unable to move out from my parents' house... You tried to explain them that it was because of the disparity between salaries and rents, and they kept insisting that it must be because we are attached to our families and blah blah... Now that it's a global phenomenon in the West, we need to start thinking about relaxing building permits everywhere, limiting the access of hedge funds to the property of family homes, and above all we need to start seeing other countries as "the canary in the coal mine" rather than thinking "hihihihih that will never happen here!" 🤷🏻♂️🤷🏻♂️🤷🏻♂️
The reason why the permits aren't relaxed is because of EU laws relating to climate targets.
Building houses pollute the environment around it and releases a lot of CO2 emissions because of digging up ground on a massive scale and cement works.
The whole European strategy in reaching its net zero goals was to deindustralise so that won't be an option.
It is an option except decarbonizing is to get rid of all the poor
@@inbb510That’s such a scam. Bringing a bunch of immigrants to compete with locals for over priced houses while also limiting opportunities to build more housing. Climate change taxes seem more of a white lie, Europe doesn’t even fund research projects in a big scale to solve the main issues regarding CO2 emissions
@@inbb510Gosh the idea about next zero emissions is so retarded it's out of reality. The world still has much to develop and plenty of countries with insane population sizes will have to continue improving for long time before being able to think about environment. It's obvious Europe is a vassal continent that belongs to the global elites + USA. Things are not the way they seem to be. Actually a very funny thing that Germany pays the price for empires west of it screwing up the south. Only god knows how many foreigners the German vassal state had to accept. It's the richest in Europe but that means no sheet obviously.
100% agree with the "that could never happen here" mentality "becoz vi are perfekt und efficient" should I add. For me personally solidarity would have been more efficient than the delusional idea that prosperity is a fixed, unchanged, guaranteed property of some "superior" nation. If something bad happens to Southerners it's their own fault if something bad happens to Northerners... it's the Southerners' fault. It's getting old...
Rent for 1 room is equal to mean salary, average flat cost more than persons whole-life earnings, companies don't want to train juniors and pay living wages, geeeee THE MYSTERY!!!!!
@Person11068 UK literally gave away all communal houses in 1980s, and later started vicious cycle of stimulus checks for wannab-be home owners and subsidies for renters. So yeah, we should stop doing that, you don't extinguish fire with gasoline
@Person11068 Just because stimulation checks don't work doesn't mean he wants austerity. Maybe he wants a return to building social housing, for instance.
im almost 32 and i still live with my parents, why? Because renting/house costs are a joke, sure i could live by myself but i would starve.
Well honestly i would rather spend 500 euros living with my family then throw it on the rent and live in poverty just to flex on someone "Look at me guys i live alone, my fridge is empty but i live alone!! xd"
@@Dotalol123 i live solo and 500 euro are my entire monthly spending including rent
If its only 500 its doable
@@Bleilock1 Well i live in Belgrade i do average job for an income of 750 euros, cheapest apartment in the vicinity of my workplace is 500 euros, i can find it for 300 in the outskirts of the city, but then i will have to commute 1 hour to work and 1 hour on the way home, that is a huge waste of time, 8 hours of working is enough, there is no need to waste more time... Im fine at my parents house. So for me to be able to afford to live alone my company would need to increase my paycheck for about 500 euros and that will not happen, we talked with the owner, he said if Serbian workforce becomes too expensive for the company he will just outsource elsewhere in the world, so it is what it is...
@@Dotalol123 tako ti je i u hrv, samo, vec nas mijenjaju sa nepalcima, filipincima itd itd
Moja placa ti je cca 1100e, renta je 600 (zagreb)
Stan nema ni 50 kvadrata
Prosli stan sam placao 400e bio je 56 kvadrata
ALI
Ove agencije sto uvoze radnike, su se javili tom proslom stanodavcu, i lik me izbacio da bi primio 15 nepalaca za 800 (duplo vise nego sto sam ja placao)
Agencije tak i tak placaju samo 30% place tim nepalcima, pa im se isplati platit im 800 eura rentu za njih 15+
To slijedi i beograd
Exactly why live paycheck to paycheck renting meanwhile you can have disposable income and “luxuries” by living with parents 😂 although financial literacy is abismal in my country so even with the perks of living with parents some still live paycheck to paycheck
I'm from Northern Europe. Moved to London for work right after uni, but came back after ~7 years. Since then, I've been living with my parents despite having a good job, etc. It's just painful to throw away a bunch of money for rent, etc. when I don't yet have a family.
Edit: also can't discount the benefit of having your meals cooked for you and clothes washed haha
Does that mean you live in your old room? Or do you have your own apartment in the house of your parents? I could not imagine either (living on my own since I am 20), but living in my old room sounds like a nightmare... what do the ladies say when you bring them home?
I don`t know how it works in your country but in my it means you can not have your own family because you are living with parents and you are living with parents because you have not family yet)). and for huge amount of women this situation it is not attractive.
It's not ideal. It ridiculous. I lived at home for 8 months, and I used that time to save money for a cheap house. My main aim was for independence. This never-ending childhood is probably what is driving a lot of male mental health problems.
@@user-ib3mh7su8h Actually this is the problem that I should have added to my original post. It's not impossible, but it's certainly a lot harder to have seriously relationships in this situation.
Ultimately, despite the advantages, I do recognize that I'll need to probably make a change in the coming years.
I'm Australian, lived in Northern Europe (grandfather is norwagian so have eea pass) lived in London for two months and couldn't get out of there soon enough, 70% of my pay went to one room.
The problem isn't living with your family but being forced to it. I don't have a family anymore but I would 100% live with my mum and dad if they were still alive.
Mine is an odd case. Unlike my Italian peers, I first left home shortly after turning 25 (to purse a MA in Germany thanks to a DAAD scholarship), but it's only at the age of 29 that I have found my first serious job and become financially independent (abroad, once again). Still, the mere idea of buying a home in this historical period makes no sense. If renting a bedroom already costs a third of your salary, what's the point of renting a whole flat, let alone buying a whole hous? Even my German peers are waiting much longer to earn their own money and leave their parents' home, something which would have been unthinkable 20-15 years ago. If this is supposed to be a sick resilience test, we're working our tails off far too much.
1/3 of your salary towards rent is not even that bad nowadays. I know people who pay 1000€ for a single room in a coliving space.
I'm Italian as well but lived in the US most if my life. My parents lived in California, and I moved to Hawaii and then lived in Africa for years.
When I returned to the US I lived with my parents and cared for them until they died.
Now I'm in Italy and my 40 year old cousin and his brothers and sister, still live at home. All my unmarried cousins live at home unless they leave town for work.
It's the culture not economics. An apartment is cheap to rent in my village.
My American friend dated a Spanish guy and didn't like the fact that he lived with his parents. IMO, it's a beautiful part of the culture.
If you can, you buy a house since rent is just paying someone else’s mortgage. You are burning thousands of dollars a year you could be paying back to yourself in the long term. Short military service seems to be the only way to get a home for most young people.
Buying a house is usually cheaper, for example you can pay € 800,- a month in rent for a room but the owner only pays € 500,- a month in mortgage for the entire house. The monthly payments for houses are usually cheaper, the main issue is that the initial investment to actually buy a house is usually prohibitively expensive.
Buying a house always makes sense
In Canada it used to be that your parents would expect you to leave the second you graduated high school. I did that and left home at 17 for uni and never moved back. My brother is 6 years younger than me though, he is still living at home at 27. The difference? Back when I moved out you could rent a decent spot in the city for $500 a month... Those same spots cost 1500-2000 a month now. I used to be able to afford rent, groceries, beer and weed off of just $1000 a month and still be able to go out to the pub with my friends every week... I tell that to 25 year olds now and they just shake their heads
Yeah those days are long gone.
And the government is whining that no one wants to have children: no sh Sherlock how can one raise children without a place to live or enough income to support them?
From 500 to 2000 is criminal.
Regarding the housing crisis: one crucial factor worth researching is the increase in short term rentals. In the small town I live, one person alone bought up around 50 apartments over time, and turned them into short term rentals - if that trend runs true throughout all of Europe, it would play a huge part in taking apartments off the longterm rental market.
Another factor: new properties bought for investment purposes and just left empty, because the investors don't want to bother with annoying renters, they just want someplace to park their money.
I actually managed to afford a studio apartment (with mortgage) in a newer apartment complex in Croatia's capital and can confirm all of this in six months living there.
One person bought five apartments in our building alone for the purpose of renting. Someone else (if not the same person) bought a dozen parking spaces in the next building with the same idea. Probably 40% of apartments are completely empty, bought as an investment.
This should honestly be either illegal or heavily regulated. There are social housing initiatives but they do barely enough to skew the favor towards first-time buyers.
I agree with what you say, except calling those who buy just to park their money, taking houses off the market, investors - they should be called SPECULATORS!
This should be absolutely illegal. Housing should be something that's affordable, not an investment.
yeah i fucking hate it. Here in Pisa you cannot find a one bedroom apartament. they don't even exists, and when you try to look for a "one bedroom apartment" every single result is "one bedroom" in a shared apartment. for students only. It's ridiculous. Like for example rn i could theoretically go live on my own if rent was like 350/400€ but even the cheapest student rooms start at 500€.
@@fgtxdfgtxdtThere could be arguments made against planning and having a social state but stability requires for majority of people to be living fine. The capitalists would argue against limiting them in such ways. The end result of not stopping the greedy will be ugly in high probability. I agree people and companies shouldn't be allowed to own countless properties. They will keep increasing the price up and up until the average people are done with this sheet and go do whatever would be needed to survive. Everyone wants more and we clearly can't all have it. Still we got to achieve some comfortable balance. It's ok if some folks live like higher nobility while some live on the street. I've read some information that some folks just really don't want to work and have responsibilities. They want to keep taking drugs and that's it. Some people can't fix themselves and that is the bad truth. However these damn top capitalists gotta stop getting ahead of themselves. The elites of the world probably think they untouchable. Some day however the mob will touch everybody if they don't regulate things. I think they got the right to rule the globe by the law of the jungle itself which is that the strongest rule. However history is just too full of wannabe gods who met their ends badly just because they considered themselves far worthier than anybody else.
I’m 23 yo, in my final year of university and I’m extremely grateful to be able to still live with my parents in Warsaw. It helped me immensely, to be able to NOT work and only focus on my studies. Luckily I have a great relationship with my parents and I also have a good environment for studying here at home, definitely much better than at an overcrowded dorm that hasn’t been renovated since 1980s.
Rent prices are insane in Warsaw right now. Studies at public universities are free but what of it, if you can’t afford to move to the city? This forces people from low income families to give up their studies and thats extremely depressing 😔 once again, I’m very grateful and fully acknowledge my privilege. Most of my friends have to work while studying, at least part time, cause scholarships are rare to receive.
what horseshit degree will you obtain?
@@eotikurac ? 🤨
It’s the norm in my country for atleast 10+ years, unless you find a partner theres it doesn’t make economic sense unless you really prioritize your independence, a rented house nowadays will be smaller so besides independence you will have the same problems as living with your parents, i can save almost 50% of my money and I pay “rent” most don’t even pay rent , meanwhile if I rented a house I would live paycheck to paycheck and probably would need to ask my parents for money like a lot of people that i know that lives alone do.
There's nothing wrong with You. Only the channel owner selected a topic to boost popularity of this provocative channel.
Working while in university is not bad. Ideally, it’s a work that is beneficial for your future and already makes you a better candidate for potential jobs later. Move to a city that has many part-time work opportunities in the field you like.
I'm 26 and I'm a history professor at university level in Madrid.
I don't get paid enough to rent in Madrid.
Has there been a time in Spanish history where people couldn't afford to rent in cities?
@@Nightzo I have heard that things were better during the 90s and 2000s before shit hit the fan in 2008...
A professor??? You must be making the story up.
@@anm3037 Nope. I'm a History professor on a private university.
I haven't finished my PhD yet, tho (yeah, private universities allow you to give classes with only a master's). Which is probably one of the main reasons why I haven't been paid more.
Thankfully that will change... in a few years from now (I'm still working on my PhD).
@@nachoolo
Sadly, the moment you get your PhD, you'll probably become a liability for your university (because they will lose their excuse to keep you there while paying you peanuts). I'd recommend you start looking for positions elsewhere in Europe. The food is nowhere near as good, but at least they will appreciate your effort.
I live in Romania, and work remotely as a software developer. I lived 1 year after graduation in the city where I had studied (Cluj Napoca), and after that year I decided to move back with my parents. The reason that I did this was because even tough I could afford a decent rent (together with one friend), I wasn't saving almost anything so that I can buy a car or get a mortgage for a house. Since I moved home, I already saved money for a car and plan to save more for a house. Why would I live alone and make money to a landlord when I could just live at home and save money?
Same. Working remotely, and living with family, especially while single is the best choice. I am in a similar situation as you, I live in Poland - making 3-4 times more money than my friends who work and rent apartment...
Not everyone can work remotely. Most jobs still require you to be physically present.
So the choice for most people is high rent or a 2h commute every day.
A job is not enough.
For young people to start their life they need:
- well paying jobs
- actually finding a partner
- easy access to cars / parking spaces
- a realistic possibility of buying a home
In my town:
- there are almost no available jobs because immigrants from south east asia have flooded the market
and even if you find a job it's a low paying job that you cannot escape from
- because of social media like instagram, women have raised their standards so high that they don't even look in your general direction
- cars have tripled in price ( used ones) and the parking spaces are in the NEGATIVES of -300.000
- home prices have gone up times 4
There is no incentive to try and build your life when it's almost impossible to do so. Even students have gone back home to rural areas because they cannot afford rent anymore.
Why do older generations and the government expect us to buy homes and make babies when there are no resources to do so?
A poll was conducted and in case of a war 70% of young men would flee because why protect a shithole of a country, filled with corrupt and greedy people, a country that does not help or protect your interests as a citizen?
What country is it if you don't mind me asking?
@@inbb510, that my friend sounds like Bucharest, Romania and please correct me if I'm wrong. Don't worry, Lisbon, Portugal where I used to be from, despite all its marketing is very well on its way there, in fact in some economic measures Bucharest has better living standards than Lisbon.
@@Nanotekmann It is in Romania but a different city.
Exellent analisi. Rent a house to show people u are independant? No thank u.
Why do you need parking spaces?
Im from the Netherlands and I know a lot of people that still live with their parents at 25 years old. It’s just here impossible to find a new home for an affordable price. A small apartment cost 300k euro in the Netherlands and a normal home up to 500 or 600k euro. Renting a home is also expensive so most people just live longer with their parents and when there is enough money, you can buy the home. Only problem with that would be that people find a house in their late twenties and people have children very late.
Trying to find a place to rent. Just some of the barriers I encounter:
- Demanding I have an employment contract of undetermined time. (Teaching in an area that has a shrinking population makes this increasingly difficult)
- Demanding I earn at least, if not more than, 4x the monthly rent.
- Demanding I have a previous rental referral.
- Ridiculous prices that would mean I'd pay at least 60-70% of my monthly wages, just for rent, not including gas and other utilities. This for places with less than 50 square meters.
Lets not forger the renting prices.
Lowest i have seen for a *single room* is 650 euros a month.
Thats only the room, not electricity, water and the rest of the costs
The problem with the data is the interpretation of it on diverse countries with different policies. For example the question "%adults living at their parents home". This is done by checking the municipality register for official housing location. In the Netherlands, more than 50% of students live in "rooms" aka student campus. By law, they have to register that as their new address so: they first moved out! After 4 years, they go mostly back to their parents because a normal house can't be afforded. In Belgium, a lot of students also go to student campus ("op kot gaan"). But they keep their family address as official address so they haven't "moved out". If you interpret the data presented here, Belgium and the Netherlands look quite the same. In reality, a Belgian 20 year old buys a free-standing house or luxury apartment for around 400k, while for that same amount you can basically get a 4 by 6 car garage in a city in the Netherlands.
That's a thing almost every news outlet seems to skip over.
Presenting numbers/statistics in a uniform and complete way.
They either compare things wrong: like those Amerca vs Eu(rope) but they use the least EU nation, the UK.
Or they leave half the facts out of the story, and we don't get the complete picture of why something is the way it is.
@@ChristiaanHW They can never seem to get it right.
A LUXURY apartment for 400K? Where ?
Thanks for pointing this out. I look forward to see a video or article explicitly correcting for such confounders!
The same thing happens if someone rents a bedroom/apartment I moved out of my parents apartment at 18 and I'm 26 now but I didn't change my official address because I'm renting.
Living with parent is only bad if people make a problem of it. Historically, people lived with their families their whole life. It allows grandparents to take care of their grandchildren while parents work, and it allows children to take care of their aging parents
Have you tried things like staying up at night with your parents around? Bringing friends and couples in? How about having to live far off from the places people and services are at, so you can do little more than walking around or staying at home?
I feel like people are forgetting that privacy and autonomy are things everyone needs.
@@xerzy
1. Have your own room
2. Hang out somewhere more fun than your own home
3. Do all parents live in villages now?
Obviously it all depends on your living conditions, but I don't know why you seem to have assumed one set of conditions is universal
@@xerzy depends how big the house is. In traditional family units, the home size would reflect that nature.
Obviously if you live in a 2 bedroom terraced house, you're going to have those problems
If you do so out of your own choosing it isnt bad at all, but that is not the reason people live with their parents. The real reason cost of living has become unaffordable
@@xerzy It's not worth going into massive debt just to have your own place to live. Would much rather stay with my parents at that point.
As someone who grew up in Asia and later went to Australia to live on my own, I've generally seen leaving home at a young age as an Anglo-centric cultural norm. My peers where I came from generally stayed with their parents until close to marriage, and my parents would have preferred that I stayed home with them too. My Anglo-heritage Australian peers in contrast are expected to leave home in their late teens or early 20s, though I noticed those with generally European background (at least among my friends with Italian, Greek and Polish heritage) tend to live with their parents longer into the 20s). This is anecdotal however and just speaking from my own observation.
that has a lot to do with protestantism I think (take this with a grain of salt I am no religion expert).
@@malogibeaux4946Russia isn't protestant and they do the same.
@@dainagrn7030 again, take this with a grain of salt, it's not the only thing that could do this.
I also think it's an American/Canadian/British thing.
@@danielhalachev4714he said “Anglo-centric cultural norm” all of those countries you just mentioned were once in the British Empire. Just actually read the comment before replying.
I’m from the Netherlands myself and I can safely say the reason most people here stay with their parents for a long time is because the houses here are extremely expensive. It’s extremely difficult to get a house if you’re alone. Most people here only buy a house once they have a relationship and two stable jobs
Perfect ending, MAKE MORE HOUSES! Houses are not and SHOULD NOT be investments, they're for people to live in and work out of, they shouldn't be something made to drive a number higher!
In a society that cares for the future of the yung yes. Not in this society.
I'm from Croatia. Just 3 years ago you could rent a 1 bedroom apartment for about 300 euros. Today the same apartment is rented for almost 600 euros. I got 3x the average salary and I just barely managed to afford my own apartment being single. The prices are insane for an average adult. COVID also enabled many employers to offer full remote work, so people didn't have the need to move to cities of their workplace anymore and could rather stay working from home instead, so that's also a factor.
That's the same in the UK, I cannot pay my mortgage anymore, I never being so poor.
Yeah, visiting Croatia from one year next to the other, the prices increased by 50% just by "converting" to Euro. This wasn't the government not issuing permits nor the corporations, it was pure greed from individual people and small businesses. I really hope this greedflation trend bites everyone (in all countries) in the ass and they start charging normal prices.
The thing that I find interesting is the parallels to the feudal past. As newcomers get priced/locked out of the real estate market, you get your class of landholders and your class of tenants/peasants. Now those who are safely in the manor-class and can look forward to inheriting the family estate, this might look not so bad. But this system has been tried before, and it had some issues.
Yea, it looks increasingly like the stratified and calcified society of feudalism. Each family may have one property, if they're lucky, which the primary heir will inherit, and the rest will then struggle to survive. Who will want to sell property when buying it is so expensive, and there is so much demand?
Kicking your kids out of the house is in my opinion some Fed up American and British thing, here in Finland no-one really has a problem with it, i lived with my parents until I was almost 30 and it was amazing. Money was saved, quality of life was great and everyone was happy with it. I've never understood the American "Need" to kick your kids out when they turn 18 or 21 (or whatever age), sure, my brother and sister left home when they went to study at the other side of the country but they were never forced to move out. It's just weird.
I feel it is the same even in India. Parents don't really kick out their kids after they turn 18 or 21. I moved out for my undergrad in a different city and then my postgrad in a different country. Many people of our gen do that. But no one (edit: few are) is really forced out. I kinda agree with you on that being an American thing from my exposure to American pop culture. Didn't know it was also a Brit thing.
While I agree with you being from Brazil, I wish I had the financial conditions to leave my family home half a decade earlier than I did (at 29).
Leaving is probably due to a higher sense of individuality in the USA vs Europe
The same individuality that spawns Amaxon Meta etc
Are you still a virgin?
@@dondomingo6578 Individuality that spawns thoughtless drones to work in the service sector.
And then people are asking: why are young people not interested in having kids?
It's not a lack of interest, it's just not possible. It's already difficult enough to survive, forget about having kids.
It's almost as if they engineered the system to reduce the population
I honestly think that modern families are broke.
I see parents in their 20s or early 30s and they:
- are very individualistic and ahng out frequently;
- want to travel a lot;
- spend a lot on fancy clothes, iPhone etc.
- don’t give up or sacrifice an inch of their individualistic and materialisric needs;
- have kids they need to take care of;
Good luck with that and plus I wonder how such couples will di should they give up travelling for 1-2 years.
I know people below 30 that travelled in America and Asia multiple times and I am sure they will not last as a couple should they give up travelling for a while because they have kids.
Modern world pushes you off the edge with expectations and I honestly regret being born in 1992 instead of 30 years earlier.
I’m so glad I am part of a culture that doesn’t stigmatize living with your parents as an adult. In my culture, family is everything. It’s not uncommon for grandparents, parents, and adult children, and their children to live in the same household. My culture believes that taking care of our parent is our responsibility as we become adults, as they raised us as children. I’m not saying that moving out at a young age is bad, or staying with your parents is better. I am just thankful that we aren’t as pressured or looked down in society. I live alone by the way, and love the independence. It made me more responsible with how I manage my finances and responsibilities. However, in the future I will ask my parents to move in with me, as they become more older. That way I can take care of them.
Your culture reeks of poverty and patriarchy. Not to mention rampant homophobia and bigotry as well.
Hm...I hope I'll never have to take care of my parents! I love them dearly, but the thought of that gives me sleepless nights (I had to help my aunt with taking care of grandma - she was old, had dementia etc. - and I was glad if I could leave after a few hours! Doing this every day for years? Sorry, I'd rather commit suicide! I am not a caregiver! I mean that's one of the reasons I don't have children either!)
I'm 23 and I'm from a small town in southern Spain. 90% of my friends left their family home by 18 for uni and then work in Madrid, Barcelona or abroad, because we all assumed there were no opportunities for us back home. However, it's not the same in larger cities: my friends from Madrid, Barcelona or Amsterdam still live in their family homes.
Super simple maths for me mate! After a pay raise I earn around 600 euros and rents in my area are from 300/400 euros up to 1200 (without the bills and food). The bank said I need another raise for a loan and then maaaybe :).
I do too as a 23 year old. I'm glad that my parents have a pretty big house in a rural area so we don't get in the way of each other and generally get along very well. That way I get to keep more than half of my monthly paycheck which otherwise would go towards paying rent.
Also one thing you see a lot now where I live is young adults building a second story on top of their parents single family homes. Unfortunately right now (also due to very restrictive policies on the matter) empty plots of land have shot up tremendously in the last 20 years (from about 20€ / m² to over 250€ / m²) and thus many just expand their parent's home instead of building a new one so they can repurpose the same plot of land.
Same thing here in Portugal, the capital is fcked smd I don’t know very well, but were I live everything you said is common and it’s not for now because one of my uncles got land from my grandparents the other from his father in law, one lived in a house besides his father in law, one improved a old house in my grandfather land, people I know even with degrees also got free land ect, my generation is getting the same with parents turning first floor in older houses the first floor was for wine making and other agricultural things,garages turned into homes,anexes ect
Because if I want to buy a house in The Netherlands in the “Randstad” region (Which is where like all businesses are located) I need to pay €450.000 for a house. That means you’ll need €45.000 just for a downpayment. Add to that the increasing prices of insurance, gas and common goods plus barely increasing wages. It’s literally made impossible for starters to buy any kind of home here nowadays.
not just the Randstad. Same shit in Noord Brabant. The typical excuse for high prices here? ASML + High Tech Campus are here so DUUH of course we need to ask a lot of money for a house, 'cause all these "rich" foreigners come here with money to spend ... (for a house full of asbestos from 1950)
@@drewmachine I don’t know exactly what goes on in the rest of The Netherlands bus I trust your word. This country is really worsening drastically and rapidly. It’s sad to see and me, and a lot of other young people (18 to 30 year olds) think of immigrating to other countries where housing is affordable and jobs are plenty (Austria is a good example)
It’s sad that the government cares more about refugees than its own citizens. Building houses for them but not for us.
Thanks for your comment that ads more to what I wrote and offers a broader perspective!
@@sudowtfDo you know about Germany? I've heard it's better than Austria
Renting privately just feels like a scam to me.
If I had a mortgage, money I spend on it goes towards paying off my asset.
You dont get anything back for renting so a third of your wages get thrown into a pit.
Might as well stay with parents and save some money
On the other hand, the upkeep on a home is potentially massive. A lot of people don't consider the amount of money that takes. Also, if your area experiences some kind of downturn, your asset valuation plummets and it's not easy to just offload.
Renting in and of itself isn't bad, exploitative landlords and an economy that is hellbent on stamping on everyone who doesn't make seven figures a year, make it so. The flexibility afforded by renting is potentially great. If things go bad, you don't have to stick around. You can just leave and there's nothing to tie you to where you are. It's a decent survival option. But right now the survival part often just comes down to 'don't drown'.
@@IndustrialBonecraft yeah that's fair enough
short answer: economy is completely fucked up and young people like me cannot afford anything
I thought popped up in my head when you said that univeristy degrees are worth less now. I started thinking why that is and what it implies. I live in sweeden and started studying at university because it feels like it is more common for workplaces to demand a degree now then compared to my parents. But at the same time it feels like more young people are starting to studying a higher education. So maybe the ones that finish are less unquie on the jobmarket However, more workplaces are starting to demanding a higher education now than before. If this is correct (which is just a hunch) it means that the higher education remains challanging and hard for younger people to start and complete. While the worth of the degree get's lower while the neccasity of it increase. It feels like that could lead to more people being forced to get a higher education or risking being stuck with "bad jobs" while the ones that finish get's less out of their higher education. This feel bad and I really need to research if this is correct or just a gut feeling that is in no way representive of the reality.
Sweden is a special case, because our youth unemployment is reflective of a good thing (more high quality jobs being created and high quality talent being sought out) but also the amount of jobs requiring a masters degree or atleast a bachelors has increased which makes it harder for people who don't have a higher degree to get a job better than working at a store. If you go on arbetsförmedlingen for example and search for a job in your city all you'll see is senior level jobs and very little entry level/ no education needed jobs.
Perfectly normal in Asian families if you're working fairly close to where your parents live; "Why waste money on rent when you can save for a deposit on a house?" was my parents logic, which was why me and my wife lived at their house for a couple of years. We saved a huge amount of money until we could buy our own home. Similarly, I found out my younger brother (26 years old, remote job) has now saved just over six figures just by staying at home, which puts him in a fantastic financial position for when he moves out.
Exacly on the point. Thanks brother, cheers from my parents house 🙏
I moved out when I was 20, and it is one of the decisions I regret the most from my younger years. I would have been able to finance a house if I didn't. Now I am still slaving away in a 43m2 apartment on an industrial area for €1100,-/month at age 32
Personally, I am Swiss and I still live at my parent's I prefer to inherit the family house than to buy a new house or rent an apartment because you can't even buy anything here
Great work again! 🤝
As an asian, the whole "get your ass out of my house already, you are adult" is really weird to me. My father still live in the house he grew up with my grandfather, and I grew up in the same home as him.
Are you single?
This works in a society where different generations have similar lifestyle, habits and culture. In the west it used to be like that ~150 years ago, but since then we are used to the world changing very fast, and new generations are so different from old ones, that living together is too painful. Slowly this change is also arriving to Asia, but it's taking longer also because of your culture, which is less individualistic.
It seems absurd now, but the whole thing of "you need to respect and take care of your elders" was very strong also here in the past.
That's beautiful. Generational families living together builds stronge families.
Here in Italy it's the same.
@@glidercoach and thats why in italy there is virgin/incel/fertility crisis
Very beautiful, you guys are dying out lol
@@Bleilock1
Not in my village. There are lots of babies.
In Portugal, in 2002 we hit a high of 120k houses built. Today we average about 20k yearly. There are simply no houses on the market so the prices will continue to go up. It's not even a bubble, there's just no supply for all the demand!
People are still giving socialists the majority votes, they keep on promising to solve the problems they're creating, and the sheep keep on believing in them.
After almost 9 years of waiting for a social Home for starters (because buying way too expensive). I was on place 1.. only to be rejected because asilum seekers got priority here in the Netherlands... One of my friends my age had the same issue.
Thats horrible. Locals should always be a priority.
Well, vote out the socialists
@@mourgos1234 No ! People who look for asilum don't have any home to live in, locals have at least their family home... So if you want to reduce the part of the population who live in the street (or in a shelter), you have to prioritize people who seek asilum.
@@Jeremy.Mekkaouiwho the fuck are you to decide how locals will live? It’s their country. Most of the asylum seekers come from inbred countries that cause more crimes when coming to Europe
@@Jeremy.MekkaouiI think that the housing crisis should probably be solved first rather taking in more asylum seekers and in turn making the crisis worse.
The two elephants in the room are large property owners, which monopolize whole areas or markets, and zoning, which means that further development is hampered, thus killing competition. As well, some landlords rent secretively so as to avoid taxes, providing slightly lower than market prices, but skewing the market. Finally, accumulation of property, such as second or vacation homes, limits availability. For the latter, perhaps lowering taxes on primary residences, but drastically increasing them on seconday ones, would free up some of the market.😉
I live in Malta. A tiny European country with the area of 300km². Accommodation here is very expensive. Average two bedroom apatment is minimum 200k Eur. Most of the young people simply can't afford it. Rent is also very expensive. 900 eur per month for a two bedroom flat. And the average salary here is 1500 eur
So what you’re telling me is that land owners charging unreasonably high rent prices and house prices are somehow causing young people to seek housing in their parents house? How can this be? Those two can’t be related.
Maybe it’s time government to start placing price caps on rent and housing. This is just ridiculous
Oh I can see the people foaming like mad dogs at the mere mention of a price cap. How dare you propose such anti-capitalistic, anti-free-market nonsense? You communist!
Joking aside -> cap should be relative to the minimum salary.
1:29 Unsurprising, given that a major trigger for leaving the parental home is to move in with a serious partner. Combine this with the common social situation that women are typically a few years younger than their male partner, this could easily provide a reason for the fact that women, on average, leave the parental home a few years earlier than men.
Exactly, fundamentally, people need to have a good _reason_ to move out, given the almost inevitable increased expense. Moving out just because random people might think its uncool seems stupid.
@@merrymachiavelli2041I made that stupid decision due to peer pressure and ended up having to spend half of my wage on rent for an extremely small apartment that I couldn't even bring friends or a date along.
I moved back with my parents now paying the bills and renovations and people still criticize me, I don't care anymore.
It is better to have normal life than to give most of salary for rent in small apartment if you can barely afford it. I rather go to eat well than to spend everything on rent and eat frozen pizza. I am waiting for it when I will have better income.
@@silotxwhy rent to show others u are i dependant if i cant even afford a capuccino at starbucks after a 10 hour work shift? Come guys be resonable
In Brazil, parents normally want the children to be with them as longs as possible, more of a cultural thing. I think children are expected to leave more if they want freedom or if they marry, than parent's pressure.
"stick that at the end of the video" 10/10 top notch reporting! :D
I’m not even European and this is still related
Even tho in germany the numbers are low, living with your parents in a house is quite normal often called a "3 Generation Household", it is very common for people who are half german
Germany doesn't fit into this comparison because we are a country of renters (there are historical reasons for this). Btw most homeowners are in Romania.
What are those reasons? I am interested to know @@nettcologne9186
@@nettcologne9186 Really? More than 50% of homeowners live in Romania? That's incredible. I didn't realize their population was in the billions.
I did the math and at the rate prices are increasing regarding housing and standard of living, I would need to be making roughly $113,000 to be able to get married, start a family, buy a house, provide for myself and them, and have a bit of money leftover for savings. I would not afford vacations, multiple cars, or big parties. That would require at least a salary of about $132,000. Just because more young people are now living with their parents does not make it any less of a nightmare.
the end of the video was epic .I am a tanzanian guy in austria and so loyal to TLDR keep it up
in some countries and regions in the EU the family home serves as generational living arrangement, where there's 3 generations living together, and grandparents caring for grandchildren while the middle works. Nothing wrong with that arrangement in my opinion.
The increased availability of low-cost labor from overseas has significantly reduced the bargaining power of employees. This has led to a decrease in wages and a reluctance of employers to raise them. While there are some exceptions in high-skilled industries such as IT, the overall trend is towards lower wages for employees.
Learn some skills! The fact that Europeans make fun of Americans but we at least know a skill as a standard. If yall are so smart, should be able to figure it out lmao. Yall can only blame yourselves with the migrant problem.
In the EU, the larger economies have syphoned all the cheaper talent from Eastern and Mediterranean nations, which corporations love as it's cheaper labour for them.
And the taxpayers from those larger economies pay net contributions to prop-up the smaller economies, which corporations don't mind because they don't pay taxes.
Mass immigration is a ponzi scam. It's priced out parenthood and replaced it with migrants.
Don't worry, they bring the developers in from India or Africa. High end jobs are not safe.
You are 100% right. This is what people don't understand. Unless you are a public sector worker, trade unions are completely pointless because you are completely replaceable by a Indian imigrant. They are all very highly educated and their are 1 billion of them.
@@jim-es8qk and those developers are total jokes lol. Tech salaries are still rising.
Some context about late leaving in Malta: it's an island the size of London where you can go anywhere within a maximum of 40mins. Nobody ever bothers to leave their parents' homes before getting married/settling with a partner because there's just no point in doing so. Work or university are always within 15 minutes of where you live on average. Until 10 years ago, leaving home before you filled any of these criteria was actually the taboo, leaving home before these you were seen as having had a fight with your family.
Also the rent and property have become way too unreasonably expensive.
5:45 I think the factors around getting married/starting committed relationships later in life are much understated. Society has become more atomised with committed relationships starting later than they did in the past.
However, the aspirations of young people have remained largely unshifted, in terms of timings. This leads to a disconnect between aspirations and ‘readiness’, that means young, single people are aspiring to living conditions that might typically be achievable within a dual-income, no kids (DINKs) scenario.
It’s frustrating to repeatedly see those not yet on the ladder referenced against ‘average’ house prices. First-time buyers have never been the buyers for ‘average-priced’ homes. They have cheaper starter homes, but discourse around this topic seems oblivious to this point.
There are always large factors missing from discourse on this topic and it furthers a somewhat distorted understanding of the situation and its causes.
I totally agree with your comment at the end !!!
31 here, always have lived with my parents. I have a good paying job and the outcome is that I have A LOT of money in my bank account, since we split the rent and overheads. "A lot" here means a lot for the EU and US standards. I'm doing what I've always did - wait for the moment to catch a price crash or sneak a good offer for a new apartment. The thing is to be able to save and to have patience. honestly, even now I can go and get an apartment, but I just don't want to get fucked with these ridiculous prices. If I can save and invest, as I do, in 10-15 years I will be able to buy right out in cash what I need.
I am 26, have a postgraduate study, and have been looking for my first job for almost two years and housing prices have shot through the roof recently (I live in Portugal) How am I supposed to leave my parent's house? Suffice it to say I don't plan on marrying or having kids anytime soon (if ever).
@@joaocosta3374help them with what?
@@joaocosta3374 is not that I need a house to get a woman. But if were to want to have a family I could not seriously consider putting them in my parent's house due to a lack of space. I also live in a relatively small village so there isn't much for me here anyway.
Same bro in Serbia, just imagine all that but living in a rural town far from the capital😢😢😢
Oh hello, Poland here. I'll answer your video title in five words.
Our housing market is fuuuuuuuuuuucked.
"Stick that in the end of the video..." 🤣😆 Cheers, you got me cold (while making coffee and just listening) and gave me a chuckle and broadest smirk all 2024 so far. Keep it up, guys! 🙃
TLDR of this video: have you seen the rent prices and the cost of living? 😆
Love the ending, totally agree.
And they *_DID_* stick it to the end of the video.
The outburst five seconds to the end of the video is hilarious! More of that please
I first left home when I was 21 to work and live alone came back and left several times...Worked a couple of years on a cruise line and was home (only slept in it) on my vacation....When I finally finished with the cruise industry I came back home..I had two options one live alone and have that so-called privacy and spend a large chunk of my paycheck on rent and utilities or go back and live with my folks...I pay the utilities and give my share for food and maintenance of the place...The good thing is my house is 200 square meters (like all South Europeans that build unnecessary large houses my family did also the same) the only downside bigger bill for heating in the winter season but everybody has their comfort my freaking living and dining room are like someone's apartment in size...All in all, just my opinion better live with your family to save money for other pleasures in life once you get into a serious relationship or even marriage move out and live separately for your sake not everyone's family habits or growing up are the same so lot of things could get annoying
In Greece in particular the problem became apparent right after entering Eurozone. The prices went up and the wages remained the same. I'm doing two jobs personally and I can barely contribute to my sister where we live renting and sharing an apartment together.
It was my dream since adulthood to become independent. I'm 40 and this dream is dead. So, yeah... It's a bad thing to not being able to have the basics, no matter how hard you try.
Even in Germany, I remember how everything got a lot more expensive after the introduction of the Euro. Media and politicians tried to tell us that we're just too stupid to do the conversion, but it was just a scam for the common people at least.
Considering you share an apartment with your sister and also work 2 jobs i’m guessing you don’t have a partner, and on top of that you are 40 already..., your life sounds like a nightmare to me
@@Aquamous Not good, indeed. However here are many like me or worse.
@@perseusarkouda Well yep you gotta look at the positives
@@AquamousNot feeling bad. It could be much worse. Other people are dealing with war. I'm considering myself lucky to be around my family and friends.
Lucky to those people who have this as an option even. Some of us have parents that can't house themselves.
greatest video ending in a long time, thanks
The problem is because planning regulations are making the construction of new housing an arduous and extremely expensive affair
As a Serbian I can tell you it's considered as a must to take care of your parents and even to live with them in the family house. Especially if you are a male child. But more and more urban life is changing that. But if the prices continue like this it's going to make us live together even if we don't want to. For rural areas it's normal to live in your family house especially if you have some farmland attached to it, but in cities that's not the case.
In Serbia, it is considered a must to leave the country as soon as you finish your education.
Same in Bulgaria. Unless your parents are bad people, I don't think this is a bad thing.
@@Drunken_Master that's accurate... I did the same thing
Not just Europe. As a Korean man, I used to pay 25% of my income on rent and decided to move back in my parents'. What makes things worse is I don't see myself moving out here in a near future.
Thank you for the video from Odesa, Ukraine 🥰
I regały hate when you talk about unemployment rate or any statistic data from Poland, we had extremely corrupted government recently, where TV and mas media was under heavy government propaganda. Few years back there were big reforms how you count unemployment - that in practice droped unemployment by half. Grey zone did grow too, as people want to enjoy social programs, so they can't be either employed and have no time to stay registered as unemployed. So in Poland we have real unemployment - people who want to work, registered unemployment - people who want to work and can afford to stay registered, and unregistered rest - mostly enjoying social programs, that easly can be double amount compared to minimal wages.
I am 31 here currently and working for 3 years nearly, still living with my parents. Got almost priority to get a rent, cause I cannot afford buying a house for at least a decade due the house market crisis in the Netherlands. Even though it can be much quicker through mortgage, it is religious (Islam) forbidden for me to do that due interest rate being involved >_
That comment in the end! :D Love it!
Huge fan of the end of video summary
The issue has nothing to do with EU membership.
On your maps you also show data from non-EU members such as Norway or Serbia.
8:38 Well, building more houses in places where people want to live is the hard part. In the UK there are PLENTY of houses, and they can be get very cheap, because they are in places people don't want to live. The issue with building more in the cities where people want to live is that there is no space there. In the UK, most people would love affordable housing in zone 1 of London, that is never going to happen! Everything within tube access to London centre is build full, and those on the edge don't want huge towers going up all around them either. This happens everywhere! In the Netherlands there is the added issue that more houses means even more build up area and given we already have almost nature left, many local people will oppose any plans like that.
The solution is much great work mobility, meaning you don't have to live where you work, meaning all places become equally good in that aspect, and people will move to where it is cheaper spreading the demand over the country instead of focussed on a handful of cities.
One of the only possible ways out is preventing speculations on houses.
No individual or company should own dozens/hundreds of houses.
While taxes on the first house should be non existent and taxes on a second house (the one one possibly buys to gift to one's child) should be very low, taxes of the Nth house should be very high.
AIR bnb and similar should also be restricted.
In Eastern Europe where average wages are around 700 Eurous per month and property costs around 200k in addition to massive interest rates, properties are mainly built rather than bought as well (now it's changing but this is how it was), its impossible to own your property as most people would be lucky to find a job to begin with as well.
I'm 25, got my bachelors degree and have had a full time job for just over 2 years, saved enough money in my bank account to renovate a house and pay monthly bills for an extended period. And yet I still can't get the mortgage required to buy a house. Simply because if youre starting on your own the banks just wont give a high enough mortgage for a half-decent house. Moreover, i've been signed up to a housing corporation since i was 18, and even now the chances of getting a rental home are low because the waiting lists are just so fcking long (over here it works in order that you've been signed up for, so the longer youve been registered for a rental home the higher up the ladder you are).
Sweden?
Croatian houses were always multigenerational, there is alot of situations where on first floor parrents would live and on second kids, sometimes people would live in same apartment just to make one empty for renting to tourists or something like that.
Also usually the oldest kid stays in his parrents house and younger move out, but in Croatia 90+ % of people have their own house or they co own some house, for example my own house is split between various familly members and everybody has their own part of the house with their own apartmet.
I'm lucky to be able to live on my own (mid-30's) in the Netherlands, but the question I'm often asking myself is "at which costs" (literally and figuratively speaking).
Because of financial regulations implemented by banks in the Netherlands since the Eurocrisis, I can't get a mortgage higher than €265k for I am a one person household with a study debt, even with an income which is 50% above average. This whilst the average starting prices for a new-build studio (40m2 sleeping in your living/kitchen) starts off mostly at €350k-€400k. Apartments and houses with separate bedroom(s) are at least €500k for existing properties and some developers are even asking in excess of €700k for a new-build.
At the same time, the financial regulations do let me rent an apartment for €1600,- a month, basic rent (so that's without service costs and costs for utilities). If you calculate that basic rent into a mortgage (so based on net monthly mortgage costs of €1600,-) I should be able to pay for a €410k mortgage which is over 50% more than I actually can get. Therefor I am 'throwing away' money into a house I will never own, because the banks won't let me buy a house I could own at the same monthly expense ☹
The system almost forces you into a relationship to be able to buy a first home or as we jokingly call it in Dutch: "looking for a fiscally attractive partner" 🤣🤣🤣
Your outro nailed it, at least in the UK
Wages did not keep up with property price increases. It takes roughly 10-15 years for a young adult to save money to afford an advance payment in order to buy an apartment. And after that, you will still need to borrow the rest and pay back the loan for decades to come. It is simply not worth it anymore as the job market and financial market is fluctuating, you do not know what will come of you 10-20 years later down the line. While today you may have a decent paying job for which you can afford to rent an apartment or to take a loan and buy one, that cannot be said 10 years later. Many people are refusing to take this risk as they will become slaves to bankers and their job.
In Western Europe the housing crisis is exacerbated by their stupid migration policy because you need housing in order to accommodate the vast amount of immigrants. This leaves the native youth with no choice other than to stay with their parents, or work for many years to afford taking a loan and buy a house.
Stastically imigrants make up a tiny amount of people looking for a home. Don't blame the immigrants, blame policy
Do you think migrants can afford 1200 € of rent?
@@Lemmy4555 Do you think they are paying for any rent at all? The government even fucking rents hotels to house them.
@@Lemmy4555 no they cant
But here in croatia
There are these agencies that import cheap labor from philipines, bangladesh, india, etc etc
And what agencies do to save money is
They promise to pay rent for those immigrant in return for lower pay
So they pay those immigranrs only the 50% of minimum croatian wage(and our minimum wage is miserable already, cca 700 euro), and now here is the dirty part
Same 50 square meter flat i could afford with my normal paycheck for about 400-500 euro a month
Agencies come to those same landlords and tell them, that they will pay for the same flat 800+ euros, if they are allowed to put in (at least) 15 of those immigrant workers
And greedy landowners always accept that
They get double money for housing 15 people instead of 1 native
And its obviously not those immigrants who pay for it, but my fellow countrymen, for profit
And its only getting worse
We can thank capitalism for that
@@computerfan1079 Statistically, millions of immigrants have been coming into Western Europe, so much so that in some countries like Ireland, there is a housing crisis going on. And that is a case where the government is admitting that the housing crisis is exacerbated by immigration. There are other countries where this is a problem, like UK, France, Sweden, Italy, Spain. These people need housing, and especially those that come illegally. In many of these countries, hotels are being rented by the government so they can house them. Using taxpayer money.
I'd love to move out, but most flats nearby start at 900+€ a month without heat etc. And I can't move too far away because of different reasons. It's really quite frustrating. Especially since my government doesn't seem to want to do anything about the housing crisis. I earn ~2k€ a month after tax, and I really don't fancy spending half of my income on a small flat.
and then there's portugal. 1 bedroom apartment is, on average, 2005 euros and 70% of the population earn 1000 or less euros. obviously im not moving out any time soon
You earn 2k euros and still cant afford to pay a rent, I mean Im not earning anything and I have a law school finished, average rent price in serbia is 300e and average salary is maybe 650e 😢😢😢
@@kname1882 I could afford rent in some different areas, but that would drive other costs up for me. It's just in my immediate area that rent prices are incredibly high. Even smaller and older flats are still upwards of 700 € a month.
@@kname1882 but that's pretty crazy. How does anyone afford anything if they already pay that much for rent?
@@Micsmit_45 thats the thing we don't xddd before 35-40
i've left parents house at 16, been renting since 20, and at my 28 had my own place in major city. prices for buying/renting are rising, but its still not that hard to accumulate money for your own apartment/house here, in Russia
Yep totally agree with the last sentence.
Sometimes , even if you afford a rent ,you have better conditions at home ,and this allow you to use more money for yourself instead for a rent
And having a rent doesn't necessarily means you have your space , many young adults share their rent with friends or better say people who you meet a few months ago ,but you don't have a choice,so it is possible to be much free with your parents that in a rent
Honestly, in many of these countries schooling takes longer. In the UK you finish your masters at 22, while here in Slovenia you finish it at 24. Frankly, the government here is just wasting people's time. The last year before college could easily be scraped since its just a revision year.
My sister left home when she was 19. She is now 22 and only manages to sustain her living where she does with a roommate to split the rent and 4 jobs. Teaching assistant, waitress, reviewer and writer.
I am still living at home at 20. But due to health issues I have that is unlikely to change for a while. Unfortunately I think my sister with 4 different jobs is a more typical example in the UK.
In Mexico young and not so young adults live with our parents too, in many cases the house just becomes bigger and bigger and the children and grandchildren stay there.
House prices in Mexico are nearly impossible to pay 😢
"Because despite the elevated incomes in Europe, there's a lack of awareness about the high cost of living, making solo living financially challenging for many. This points to economic challenges in Europe. Nonetheless, I don't perceive any issue with residing with one's parents, especially when actively contributing to household expenses. This aligns with longstanding traditions in Africa and Asia, where living with parents until their 50s is common."
true