Tuesday, 29 July 2014

Still living at home with your parents ? your not alone

"Nearly two million working young adults aged between 20 and 34 years old in England are still living with their parents according to Shelter, which is urging stronger action to help the ''clipped wing generation'' fly the nest. The charity said data it has taken from the Census shows that there are 1.97 million people in this age group in England who are still living with their parents, accounting for one quarter of all young adults in employment. A survey commissioned by the charity also found that nearly half (48%) of 250 young adults who live with their parents said they do so because they cannot afford to rent or buy their own home. Shelter said its analysis of the Census data uncovered several areas where the proportion of adult children living with their parents is much higher. It named nation's ''clipped wing'' hotspots as Castle Point in Essex where 45% of working 20- to 34-year-olds live with their parents; Knowsley in Merseyside where the figure is 42%; and Solihull where 38% of young working adults still live in the home they grew up in. " I too can add myself to this ever growing list. The rental prices in East Hertfordshire are reidiculous and someone who only works part time with his wages topped up a little by working tax credits paying a rent of 500 pounds a month upwards is simply not a option i can afford. I am blind as some of you may or may not know and i would love to further my independence by gaining my own place. But this is just not possible. If renting is almost impossible dont even think about owning your own place either. I am 26 and have very little chance of getting on the so called propety ladder. help to buy and schemes like these are helpful to some but for many they make no difference at all. "Shelter highlighted the case of a 32-year-old woman named Sarah who lives with her parents in the family home in Croydon. She works in online advertising, but has been living on and off with her parents for the past 10 years while trying to save for a deposit. Sarah said: ''I'm trying really hard to save up and get my own place but today's rollercoaster house prices mean the goal posts keep moving. ''If I move out now the reality is I'll be stuck paying expensive rents for the rest of my life. I know I'm lucky to have a job and somewhere to live, but the thought that I'm going to be living like a teenager into my late 30s or even 40s is really disheartening.'' Campbell Robb, chief executive of Shelter, said: ''The 'clipped wing generation' are finding themselves with no choice but to remain living with mum and dad well into adulthood, as they struggle to find a home of their own... ''Rather than pumping more money into schemes like Help to Buy, we need bolder action that will meet the demand for affordable homes and not inflate prices further. ''From helping small local builders find the finance they need, to investing in a new generation of part rent, part buy homes, the solutions to our housing shortage are there for the taking. " with extracts from an article in todays Daily Telegraph http://www.telegraph.co.uk/finance/personalfinance/houseprices/10996825/Clipped-wing-generation-still-live-with-mum-and-dad.html

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