New research shows just how misguided the stereotype isby Jo Bibby / June 28, 2018 / Leave a comment
One of Margaret Thatcher’s many legacies must be the goal of owning a home becoming ingrained in the minds of today’s 20-year-olds as the measure of a successful transition to adulthood.
Talking to young people from around the UK as part of our “Young people’s future health inquiry,” we’ve found that while their aspirations for adult life remain largely unchanged from those of their parents—steady and rewarding work, owning their own home and stable relationships—many are struggling to realise these most basic of ambitions. You’ve probably heard this before, but study the data and the specifics and that’s where the scale of the problem truly becomes clear.
Frequently criticised for being a flaky generation, our initial findings reveal a striking and very different picture. Young people today face challenges and opportunities very different to those when I was growing up. Changes to the employment and housing markets mean that many young people face an insecure future, with the traditional milestones on the path to adulthood—such as leaving home or getting a secure job—largely inaccessible. Add to this the need to navigate a complex digital social landscape that didn’t exist a generation ago and the path for young people quickly appears far from straightforward.
Those people who persist in the view that millennials are pampered and over-indulged should consider this: 40 per cent of young workers (aged 21 to 24) are paid below the Living Wage—compared to 22 per cent of all workers. Those aged 16 to 24 are more than three times as likely to be on a zero hours contract. Home ownership is now unaffordable for most young people, with a quarter of 24-35 year olds owning their own home today compared to around half 25 years ago. Young people who do manage to fly the nest are likely to be living in the private rental sector, forcing them to move regularly, often experiencing poor accommodation and unscrupulous landlords. Of even more concern, one in five young people have reported having to sofa surf because they have nowhere else to go, many for more than a month. Against this backdrop it is hardly surprising that young people are the section of our society reporting the highest levels of loneliness and some of the poorest…