Intergenerational inequality in housing costs

Millennials will be paying on average three times more than their grandparents for housing. Not only do many have the burden of higher education tax, they also have lower incomes compared to the previous generation.

Mix Developments have been highlighting and addressing the disproportionate cost of housing for Millennials by developing a housing model that is targeted to them. We offer homes that will remain affordable by ensuring that the average mortgage payments are truly within their means unlike many options in the market. In this way some of the entry barriers to home ownership are removed and they will pay at the same rates as their parents did, if not less.

Mix will continue to press for a healthier intermediate housing sector by increasing the number of genuinely affordable homes targeted to people on lower incomes. Without these the pressure on affordable rented homes will not be eased.

The Guardian “Millennials spend three time more of income on housing than grandparents”
Resolution Foundation – Home Affront, Housing across the generations