Young people and home ownership in Europe

The paper investigates home ownership amongst young people in Europe. Studies which compare experiences across European countries on this topic are very scarce. Using European Survey on Income and Living Conditions data, this paper conducts a multilevel analysis in 28 European countries, aiming to provide further insights about young people's home ownership considering both macro and micro factors known to influence levels of home ownership. Based upon an analysis of key literature, the paper focuses on the influence of the housing system, labour market, and welfare state in each country, and on the social class of origin of the individual. The analyses show the relevance of socio-economic family background: young adults from the middle class are more likely to live in homes they own, compared to those from the lower and higher classes. Beyond individual characteristics, social policy has substantial influence on the tenure status of young adults. Most notably, this paper concludes that there is a negative correlation between the welfare generosity of the state and levels of home ownership, supporting the idea of the house as a safe haven and emphasising the importance of the social class of origin, especially in those countries where family is traditionally seen as the social safety net.