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Damning report exposes Europe’s escalating housing crisis

3500Europe is experiencing a “silent emergency” for housing, with the number of young adults living with their parents now at an all-time high, according to a study.

Research conducted by Habitat for Humanity, a non-profit NGO dedicated to promoting affordable housing around the world, found that the 2008 housing crisis triggered by the global financial crash is by no means over in Europe.

Experts warn that continuing problems, such as exploding costs and the numbers of young adults forced to live at home, are likely to have a major economic and social impact across the region.

According to the report, released on Thursday:

  • More than 10% of Europeans shoulder housing costs – including rent and heating – in excess of half their household’s income. In central and eastern Europe, households spend between 30 and 50% of their income solely on winter heating, and rising household costs are contributing to poverty levels and raising the likelihood of people losing their homes.
  • The numbers of young adults aged between 18 and 34 who are living with their parents is now at an all-time high. The situation is worst in Slovenia, where 74% still live at home, in Italy it’s 66% and in Portugal it’s 55%.
  • Construction of new homes has plummeted by between 70 and 90% in recent years, and the amount of social housing does not even cover 10% of people’s needs.

The study’s authors also stress the rise of a ‘housing poverty’ reality, which has been created by the growing gap between poverty and affluence in economically vibrant urban centres, and that forces skilled and highly trained professionals to move outside of cities because they they have been priced out of them.

Read more in the article on the Guardian.