Decline in the proportion of young homeowners
In Spain, the number of young families owning their own homes has sharply decreased over the past two decades. According to a recent analytical review, currently only about a third of households where family members are aged between 29 and 40 can call themselves property owners. By comparison, at the beginning of the 2000s, this figure exceeded 70%. This trend highlights the ongoing decline in housing affordability for new generations.
Impact on savings and wealth inequality
Economists note that the main share of wealth in the country has traditionally been tied to real estate. Young people unable to buy property are forced to rely on bank savings and modest assets. Since 2008, their incomes have dropped significantly, and the purchasing power of citizens under 30 has fallen by around 400 euros per month. As a result, the average accumulated capital for young families does not exceed 10,000 euros, while for citizens over 60 this figure tops 70,000 euros.
Generational gap and social consequences
Experts emphasize that the current situation differs from the experience of previous generations. While nearly 90% of today’s retirees were able to purchase a home when they were young, among younger people this figure is three times lower. As a result, young people have fewer opportunities to start a family, invest, and engage in long-term planning. This deepens the wealth gap between age groups, and the traditional model of capital accumulation by retirement age is no longer effective.
The Role of Financial Literacy and Support Measures
Experts note the low level of financial literacy among adults in the country. Only 44% of Spaniards have sufficient knowledge in this area. In this context, developing educational programs and introducing new capital accumulation tools becomes especially important. Proposed measures include automatic savings accounts and regular contributions, which can help young people reduce financial risks and build resilience to economic shocks. Experts believe that government support and the development of financial culture are essential to overcome the current situation.
