First, a lot is meant to happen before you are 35. It used to be that parents were a few years into their duties at least. No longer. Family formation is being delayed ”“ sadly, often for too long. High housing costs and weak wages mean young people may not feel able to have the family lives that they would want.
Second, a world of ever-escalating house prices will embed inequality….
These problems are too serious for (usually older) people to wave away. Nor are they easy to solve at a stroke. Part of the problem is that global competition and automation have removed a lot of decent starting jobs. But there are ways to help. We could subsidise employment and education for the young a bit more. Tax and planning law could be reformed to create incentives to build new housing. None of the obvious pro-young ideas is simple, but none is even on the agenda. Politics tends to pander to the old.
Read it all (if necessary, another link may be found there).
(FT) Chris Cook–The young are doomed ”“ and only the old can save them
First, a lot is meant to happen before you are 35. It used to be that parents were a few years into their duties at least. No longer. Family formation is being delayed ”“ sadly, often for too long. High housing costs and weak wages mean young people may not feel able to have the family lives that they would want.
Second, a world of ever-escalating house prices will embed inequality….
These problems are too serious for (usually older) people to wave away. Nor are they easy to solve at a stroke. Part of the problem is that global competition and automation have removed a lot of decent starting jobs. But there are ways to help. We could subsidise employment and education for the young a bit more. Tax and planning law could be reformed to create incentives to build new housing. None of the obvious pro-young ideas is simple, but none is even on the agenda. Politics tends to pander to the old.
Read it all (if necessary, another link may be found there).