Band 6+: An increasing number of young adults are delaying or forgoing homeownership, opting instead for renting or living with family. What are the underlying reasons for this trend, and what measures can governments or financial institutions take to make homeownership more accessible?

There is growing concern about rent and the low number of young adults that are landowners. Before grasping the topic of homeownership, it is crucial to understand that ownership is one of the core topics of the economy. In this vein, this essay will discuss that low wages, and a state taking measures that are far from those society-oriented ones are the roots of this problem.

First and foremost it is important to understand that since 2008 house prices sky-rocketed due to the mortgage crisis. To support this statement, The Economist, which is a prestigious newspaper, stated that wages have constantly lost purchase-power, a tendency held since 2008 and counting. Nowadays, salaries are not as good as they used to be. In this vein, it is essential to grasp that salaries lack the possibility of saving to buy a house.

Second, it is also crucial to refer to governmental measures: those have changed from those taken twenty years ago. For instance, in 2006 many social services were granted and those could lighten the burden of expenses, nowadays, a basic salary should cover those costs. Should the government return to granting those services, people will be able to save some assets in order to buy even an apartment.

To resume my position, wages has been suffering from a lowering in its purchase-power and the retry of the government has made people pay for things they were not used to. Of course further studies should be made in order to solve this topic, nevertheless, the government should restraint from having a business-oriented mindsend and to comply with its objective: to be a facilitator of progress and development.