Who are the other millenials - those who DO own property?

Everywhere you go you can read more stories about how hard it is for “millenials” to buy their first property. I do not disagree with this in the slightest. It is hard, and getting harder.

But the statistics in headlines like “1 in 3 Millennials will never own a property” have a flip side: that means 2 in 3 WILL. It also means that there are a number of young people, still in their 20s and early 30s who have already bought their first home, even in London.

Why do we so rarely hear about them?

Do they not have experience and advice that they’d like to share with us? Or maybe it is a secret - are the all now “influencers”? Is the burden of home ownership such that they’re now forever buried in DIY and cooking for themselves to save money?

Or is it something else?

I came across a really interesting article in Vice about the “Great Millenial Housing Divide” and it made me think differently about this. Is it that there is a growing social divide between those who have advantages from wealthy parents, or some form of financial windfall offering social mobility, and those who don’t?

While this has always been the case, maybe the extreme prices are highlighting those with the greatest advantages, and so making everyone suddenly uneasy - to the point of breaking friendships.

I’d never thought about how silent this group is until I tried searching for them.

Is it YOU!? Have you managed to buy your property already? Would you be willing to talk about this and how you were able to afford it?

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I don’t think I quite qualify as a millennial… but being on the cusp and having bought my first house relatively late (early 30’s, would have preferred at least late 20s) I faced this issue.

While we did have something saved towards a deposit, it was a parental contribution that allowed us to go straight into a family sized home in an area with good schools.

While 2/3 millennials may end up owning homes, do they stand any chance of the mobility their parents generation had? Or will they be stuck trying to raise families in tiny new-build starter homes on estates 5 miles from the nearest bus stop/shop (likely with an unfair leasehold they were mis-sold and on a flood plane the estate agent ‘forgot’ to mention…)?

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