Property News · July 16, 2016

Millennials will spend £53,000 on rent before age of 30, thinktank says


Resolution Foundation says baby boomers spent just £9,000, in report that highlights struggle of young people to buy a homeMillennials will spend £44,000 more on rent by the time they reach 30 than baby boomers did, according to a report that underlines the struggle younger generations face to save for a deposit on a house.A combination of falling homeownership levels and the rising cost of renting meant that people born between 1981 and 2000 would pay £53,000 in rent before their 30th birthday, the Resolution Foundation said. In contrast, those born between 1946 and 1965 typically spent £9,000, in today’s money. Continue reading…

Source : theguardian.com
Read more…Millennials will spend £53,000 on rent before age of 30, thinktank says

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