Politics: One in three millennials to rent as OAPs as home ownership plunges 80 per cent compared to baby boomers

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UP to a third of millennials face never owning their own home, a damning housing crisis report will reveal on Tuesday.

The Resolution Foundation think tank said that around half of 18 to 36-year-olds currently rent.

A new housing crisis report says one in three millennials will never own their own home

In a major generational shift, four times as many Millennials are renting at thirty than Baby Boomers at the same age.

If the pattern of the 2000s continues, the same number will be in social housing or private lets in their 40s.

And it claims that a third — equivalent to 4.6million people — will still be renting by the time they become pensioners.

Lindsay Judge, the Foundation’s senior policy analyst, called for radical reform of the private ­sector and for more affordable homes to be built urgently.

The report also says that half of 18 to 36-year-olds currently rent

She said: “Britain’s housing problems have developed into a full-blown crisis and young ­people are bearing the brunt.

“They are paying a record share of their income on housing in return for living in smaller, rented accommodation.

“We have to improve conditions for the millions living in private rented accommodation.

“That means raising standards and reducing the risks associated with renting, through tenancy reform and light-touch rent ­stabilisation.”

Housing charity Shelter revealed earlier this year just 41,500 of the 184,000 homes built last year were affordable.

A poll for the charity found affordable property is now a top-three ­priority for 31 per cent of Brits.

Britain’s Benefits Tenants on Channel 4 puts the spotlight on the housing crisis

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