Los altos precios han cerrado las puertas del mercado inmobiliario a los menores de 30.
Source: El País
Young Spaniards are losing the battle for housing. Emancipation alone with a single source of income is unlikely under 30 years. Only 19.3% had achieved it at the end of 2017 (in 2008 they were 26%), according to the latest data from the Observatory of Emancipation of the Council of Youth of Spain (CJE). Eurostat ratifies it: the average age at which the family home is abandoned (29.3 years) is the sixth highest in Europe.
This is so because the percentage of income that those under 30 must allocate to access a home exceeds the recommended 30%. In the case of salaried workers alone, it is bleeding: the rent eats 88.8% of their income and purchases 61%.
The x-ray is depressing. Low wages, job insecurity and high housing prices are leaving out, if they have not already done so, this increasingly vulnerable group. “Access to housing is a chimera for young people,” the Minister of Development, José Luis Ábalos, acknowledged this week.
If it were not for family help, many would not get independent in a long time. The family is sponsoring residential emancipation in Spain. And, therefore, assignments, donations or rents below the market price are becoming more and more important. “An interesting phenomenon is that of the cessions or donations of homes by grandparents or parents, who are the ones who, when the time comes, raise their own emancipation to leave the family home to the children”, considers Mariano Urraco Solanilla, Ph.D. Sociology and professor of Sociology at the Distance University of Madrid. An example: in 2017, households formed by persons between 16 and 29 years of age who resided in a home transferred for free were 21.5%, according to the INE. In 2008, at the end of the real estate boom, they were only 8.7%.
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And it is not the only help. Four out of ten have family financial support to cover the purchase of a home, according to a report by Planner and Sociedad de Tasación. The parents collaborate with the payment of a part of the house, with the guarantee for the mortgage or making a loan at low interest or without interest. Otherwise, it would be impossible to face price rises of 10% per year alone, which reach 20% in some districts of large cities. In addition, to acquire an average home of 150,000 euros they should have saved more than 50,000 euros. And finally, 36% of young people would have to finance more than 80% of the purchase price of a home, according to ST.
An abyss opens at his feet. “Given the impossibility of giving the children a future, many families reinforce the pressure on the purchase of housing, this discourse is similar to that of giving studies to children to try to ward off the dangers of an increasingly exclusionary labor market,” says Professor Urraco. Consequently, the preference for property is something more than a cultural singularity in Spain: “it is the main patrimonial asset that parents can pass on to their descendants and for many, in addition, it constitutes a kind of retirement plan”, he adds.
Despite the family pressure for the purchase, young people also have support to rent. Javier Barrios is a 25-year-old man who came from Logroño to Madrid in 2011 to pursue a university degree. “I went to share a flat in the Chamberí area with two other colleagues and my parents paid the amount for years.” Until the race ended and he found work. With his 1,100 euros he pays his rent but he is aware that he will never be able to rent or buy alone. “What I see is that all my colleagues continue to share a flat because our salaries do not allow for anything else.”
This gives good account in the agency Safe Rent. “The group of 24 to 35 years old who has accessed their first job is characterized by low salaries and little or no savings capacity, they usually go to the peripheries and rent, many in pairs, for 500 or 700 euros per month,” he says. David Caraballo, the commercial director. The group of 18 to 24 years old is always guaranteed by their parents, who pay from 200 to 400 euros per room, depending on the city.
The residential exclusion is real and being young is no longer biological age. It is a virus that spreads. “We could rather make it equivalent to precariousness in the sense of incomplete insertion in the labor market.” Because, “if you never achieve economic independence you will never stop being young and you will be condemned to wear that label for many years,” says Urraco.
In Spain the rent train has been lost, which had been revealed after the crisis as the way to access a house, but at the end
He has shown the worst of its faces: 1,200 euros a month in Madrid and Barcelona. Therefore, “the number of young people who have rented or tried to do so has fallen by 39% in just one year”, according to Fotocasa. The portal points out that young people (from 18 to 24 years old) who have managed to rent in 2018 have fallen by 58% compared to 2017 and in the case of people aged 25 to 34 they have fallen by 25%. Income is expelling them and, more importantly, there are many who rethink, like their parents, that renting is throwing away money. The consequence is that there are growing cases of boomerang transitions, the return to the family home. “After a couple break or a dismissal can not continue paying rent and have to return to the house of their parents.The stigma that falls on these young people is considerable and once again the family appears as a mattress,” Professor Urraco . Although it warns that the mattress is not sustainable in the long term. “For now, the pensions of the elderly allow this type of family support maneuvers, but today’s young people will not enjoy this margin.” The promoters, aware of the difficulties of young people and of those who need them if they want to sustain their business, give turns to formulas that do the miracle. Although at the moment they are few. Quabit has just launched a campaign with discounts of up to 10,000 euros in the final price to help emancipation. It will be valid until November 30 and prices start at 119,000 euros. And Vía Célere has just started the sale of a promotion in Madrid in which there will be eight flexible and adaptable floors for young people. When moving a mobile partition the rooms are extended or reduced depending on the needs of its inhabitants. They cost 190,000 euros.