Lack of social mobility keeps young off housing ladder

24th October 2014

According to a new report published earlier this week, more than 1m young people have been kept off the housing ladder over the last decade due to declining social mobility. Mobility tsar Alan Milburn said that young peoples’ dependence on their parents’ money to buy a home is “threatening to break the link between effort and reward that is core to social mobility”. The report points out that the rate of home ownership among 25-year-olds has halved over 20 years, from 45% for those born in the mid-1960s to 21% for those born in the mid-1980s.

The Sunday Times (19/10/2014)