Young People’s Homeownership in Europe: Delayed or Out of Reach? A Research Note

Young people’s declining access to homeownership is a growing concern across Europe. Yet it remains unclear whether this trend reflects a temporary delay or a more persistent exclusion from homeownership. In this research note, we examine the decline in homeownership from early to mid-adulthood across European birth cohorts born between 1940 and 2000. Using EU-SILC data from 2005–2020, we first document age-homeownership curves, showing that most transitions into ownership occur by age 40. We then show substantial cohort declines in homeownership, especially between ages 25 and 35, but also from 40 to 50. Early-adulthood declines are more pronounced among advantaged groups, likely reflecting delayed transitions to adulthood, while later-life declines are concentrated among disadvantaged groups and avoided only by high earners, suggesting limited access for younger generations. Decomposition analysis reveals that differences in work and family characteristics explain only a small part of the declines at ages 30, 35, and 40. Most of the trend remains unexplained, pointing to a broad deterioration in homeownership access, likely driven by rising house prices. If these trends persist, today’s younger cohorts may increasingly remain excluded from homeownership over their life course.