Young UK adults are living at home longer, they are getting into greater debt, and are less inclined to get married than their grandparent's generation.
Engage Mutual research shows that British under 25s are waiting three more years to move out of their parents' home and they are getting married four and a half years later than past generations.
Younger UK adults are also getting more in debt and plan to purchase their first home a year sooner than their grandparents did.
58% of present retirees purchased their first home before they hit 30, whereas, 61% of under 25s have either bought or are considering purchase of a home before 30.
Scotland has the sharpest difference, with retired Scots getting onto the property ladder atl 32, with young Scots considering buying a home by 27.
The financial landscape is very different today to when our grandparents were young. Consumer debt is high, 125% mortgages readily available and credit is at our fingertips. The youth of today have grown accustomed to living in debt.
Nonetheless, it would be useful if they could put something aside as savings .
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More Young Adults are Single, In Debt and Living at Home
Thu, 10 May 2007
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