Sunday, October 23, 2016

European Adults Live With Their Parents, Too

According to this report, 75% of adults in some European countries live with their parents:

http://www.ekathimerini.com/213080/article/ekathimerini/news/three-in-four-young-greeks-living-at-home-oecd-says

What is not mentioned is the role property values play in this trend.

In another life I spent a couple of years in Europe. Many of the people I knew could not afford to buy a home, even ones who were employed at well-paying jobs. Property and houses were out of reach, and their best chance at ownership came through inheritance of their parent's home.

By the way, extended families living in the same home is a cultural norm in some countries. The report also does not take that into consideration.

Bottom line, although Greece obviously is suffering from the current financial crisis, I'm not sure the overall EU picture really has changed.

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