Young adults longing to move away from home often have to think twice.
It is a tough housing market that they are facing today. In a survey conducted by the analysis company Evidens on behalf of HSB, 15 municipalities were compared. How much you need to save to afford a home based on the current mortgage ceiling differs greatly.
In addition, the requirement for equity is high.
– It feels a bit disheartening to somehow have thought that I have finished high school and can move away from home, but then get the reality check that “no, you can’t because you can’t afford it”, says student Ayla Örnevik Messing.
“Absurd numbers”
In Stockholm, it takes a monthly saving of a whopping SEK 11,639 for five years to manage to scrape together the cash investment to one, according to the survey. This can be compared with SEK 947 in Sundsvall.
Johan Nyhus, confederation chairman HSB, is critical.
– It will be quite absurd numbers. I think every one of us who watches it sees that our kids don’t have a chance and we can’t have it.
Even Jennie Sandén, savings economist at Danske bank, admits that it is “almost impossible” for a student to manage to save to that extent. She therefore advises those who want to take the step out of their parents’ home to consider alternatives other than a condominium.
– There are rental properties, student housing for those who study and there are collectives which are becoming more and more common. So you should naturally challenge and see if a condominium is really the first accommodation you should have when you move away from home. But it is difficult, she says.
In addition, there are additional factors that risk being affected by the strained housing situation.
– If you look at society, it is of course very difficult that our young people cannot move away from home, maybe even forced out of the big cities where the strong innovation power is, she says.
But it also affects on a personal level, according to Jennie Sandén.
– It is clear that if you postpone adulthood and the step to start a family, personal development is on hold.
Suggests start-up loans
According to HSB, there is a solution that would significantly reduce the savings horizon. They have put forward a proposal for a start-up loan for first-time buyers. The loan must be guaranteed by the state, where the buyer will be able to borrow up to 95 percent of the home’s value.
– We are talking about 400,000 first-time buyers being able to get an opportunity and there is a ready-made proposal. Make sure to shop and do some housing policy for once. Give the next generation some hope.
But taking on such large debts before you are fully in the labor market is scary, says Ayla Örnevik Messing.
– The idea of getting into debt even before you’ve actually jumped into the job market properly is completely crazy. For me, I don’t think it would have been good.