A majority of young adults say the housing crisis is affecting whether they marry or have children, according to new research by Deloitte.
The study found young people want to build durable foundations before making life-defining moves, and are aligning life choices with realistic conditions rather than ‘traditional timelines’.
It considered both the younger Gen Z (born between 1995 and 2007, and are now 19-31 years of age) and the older Millennials (born between 1983 and 1994 and are 32-43 yrs old).
“More than half of Gen Zs (55pc) and Millennials (52pc) say they are delaying major life decisions, such as marriage, starting a family or business, or furthering education, due to their financial situation. And a majority say that the availability or affordability of housing has a direct impact on their career decisions and where they can work”.
The study also found that 62pc of Gen Z’s in Ireland said they could not afford to own a home, well above the global average of 51pc.
Among Millennials, 49pc said home ownership was out of reach, compared with an international average of 40pc.
