Young people increasingly reliant on Parents to purchase homes...
And By 2019, this figure is expected to hit 40%
31% of 25 - 29 year olds own a home compared with 63% in 1990.
In 1990 39% of 20 - 24 year olds purchased their own homes. This figure was at 10% in 2015.
This has led to a boom in the rental sector here in Ireland. In some areas, home prices have reached levels not seen since in 2006, yet young people today simply can't afford to get on the property ladder. Even with tax breaks and savings the introduced by the government, young people still lose out. Some of these incentives seem to continue to push prices up, especially in the Dublin.
As a result, young people today are fighting amongst themselves to find somewhere to rent, let alone buy, pushing the rental market upwards!
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