The challenge of becoming emancipated

The challenge of becoming emancipated

According to the European barometer Eurostat, a young Spanish person does not emancipate till around the age of 30. This research specifically mentions that it is not until the age of 29 that a not so young Spanish person becomes independent and lives in his/her own place, or if this is not the case, rents a house. These facts show us that in Spain, there are difficulties for 30 year-olds to purchase or rent a house. In Europe, the average age for young people to buy or to rent a house is 26. This fact makes us become aware that Spain is years behind with regard to most European countries. The greatest enemy of Spanish young people is the lack of economic and job security and this leads to being unable to become emancipated. In this respect, the upward trend of real estate prices does not help in the least. This is applicable to both purchasing and renting. It is estimated that if a young Spanish person decides to buy a house, then the extent of the debt can be above 60%. This is the reason why it is understandable that young people prolong the time living with their parents.

The challenge of becoming emancipated

FACTS AND FIGURES

According to the Eurostat survey, Spanish young people rank in fourteenth place out of 19 countries with regard to becoming emancipated, which is not very flattering. Spain is only exceeded by Malta with an average age of 32,2. Croacia (31,9), the former Republics of Yugoslavia ( 31,5 ), Slovakia ( 30,8 ), and Italy with 30,1. Spain comes after Italy with an average age of 29. On the other hand, in the Nordic countries such as Sweden, Denmark or Finland the average age when young people become emancipated is 21. As we have already mentioned, in Spain, if a young person under 29 wishes to purchase a house, the extent of the debt may amount to 60% of its value. This fact should not surprise us because Spanish people aged between 30 and 35 go into a 40% debt. These two facts and figures are totally unacceptable because it is estimated that a bearable and acceptable indebtness should be no more than 30%.

The challenge of becoming emancipated

ASSISTANCE PLANS FOR YOUNG PEOPLE

In Spain, the Plan Estatal de Vivienda is official assistance which encourages young people to purchase a house. However, it is insufficient. In most European countries, official aid in this respect is more important and effective. This fact linked with a much better employment situation helps young European people to be able to become emancipated at around the age of 20. In countries like the United States, it is considered anomalous and unusual for a young person to remain at home once finished higher education. In any case, It is obvious that if we want to narrow the gap between young people in Spain versus others in Europe then it is indispensable to combat employment insecurity and to encourage the access to the purchase of a house creating more effective aid.

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