A majority of young adults say the housing crisis is affecting whether they marry or have children [1], according to new research by Deloitte.
The study [2] 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.