Rising Living Costs Force Young Adults Back Home
LONDON - Leoni Clancey's dream of independence was shattered when she moved back home to her parents' house after just nine months in a rental property with her boyfriend. The 21-year-old's experience is not unique, as a growing number of young adults are finding it impossible to afford the costs of running a home.
According to figures from the Skipton Group, nearly nine out of 10 young adults living with parents in the UK would face costs of almost half their income if they moved out. Clancey's situation is a stark example of this reality. She and her boyfriend had saved for years to afford their own place but found that all their savings disappeared on living costs within months.
"It just doesn't feel like it's my place," Clancey said, sharing a bedroom with her 10-year-old sister. "It's not great in terms of not being able to see my partner, not having the life that we had, having to take that massive step back from the independence that I had."
The rising cost of living is forcing many young adults like Clancey to reconsider their plans for independence. The UK's housing market has been criticized for its affordability, with prices outpacing wages in many areas. This has led to a shortage of affordable rental properties and a reliance on expensive mortgages.
Industry experts warn that the situation is likely to worsen unless action is taken to address the root causes of the problem. "The cost of living is a major barrier to young adults achieving independence," said a spokesperson for the Skipton Group. "Unless we see significant changes in the way housing costs are calculated and managed, this trend is likely to continue."
Clancey's experience highlights the human impact of these statistics. She and her boyfriend had been excited about starting their new life together but found that reality was far from what they had expected.
"It just doesn't feel like we're making progress," Clancey said. "We're still living with our parents, and it feels like we're going backwards."
The situation is not unique to the UK, as rising living costs are a global issue affecting many young adults. However, experts say that the UK's housing market is particularly problematic due to its high prices and limited availability of affordable properties.
As Clancey navigates her current situation, she remains hopeful that things will improve in the future. "I'm not giving up on my dreams," she said. "I just wish it was easier for people like me to achieve independence."
The UK government has announced plans to address the issue of affordability in the housing market but experts say more needs to be done to tackle the root causes of the problem.
In the meantime, young adults like Clancey will continue to face significant challenges as they try to navigate the complexities of adulthood. As one expert noted, "The cost of living is a major barrier to achieving independence, and it's not just an economic issue - it's also a social and emotional one."
*Reporting by Bbc.*
