In their 30’s but still home

GOING NOWHERE: Can't afford to move out

APPROXIMATELY 80 per cent of Spain’s under-30s still live at home.

They move out between the ages of 30 and 34, found a Spanish Youth Council (CJE) survey.

Even in more prosperous times the Spanish left home later than their European counterparts, usually on marrying, but another CJE finding explains the current tendency to tardy emancipation.

House purchase should account for 30 per cent of income, but under-30s on an average wage would need to earn 80 per cent more to be able to pay a mortgage. 

Young people are being kept out of the property and rental markets claimed Sheyla Suarez, the CJE’s socio-economic expert.  Less than over-indebtedness their problems are “extreme economic fragility” and the gulf between purchasing power and property prices.

Fifty-five per cent unemployment amongst the young is “alarming,” Suarez said, and half of those in work are over-qualified for their jobs.  This is even more evident in women, of whom 60 per cent are overqualified, compared with 49 per cent of men.

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