We are before a situation where the collapse in the sale of housings and the record of dispossessions they mark the current importance in the sector of the housing. A mortgage increase with continuous changes and a trend of the bullish market they continue leading the current importance on the market of the mortgages.
Before this unfavourable panorama, they continue being the young persons the principal ones harmed by the crisis, so much to level of unemployment as of access to the housing.
The current economic crisis hit with special forcefulness to the sector more young of the population. And the difficulties to find a stable employment and good remunerated lead a many young persons to emigrating to other less affected countries or to prolonging his stage of formation. Almost the half of the young persons of between 18 and 34 years they continue living in house of the parents, and only the 10 % of them prefers living in the family house.
The highest rate of unemployment that is living through the country, with historical information of 4,2 million unemployed people in 2011.
The labour instability and the consistent impediment to access to the mortgage loan, as also they need to contribute with almost 30% of the price of the housing. Is important to show that the prices have fallen down near 18% respect to the maximums of 2007, in plenary session of the real-estate bubble.
The rate of emancipation in Spain are 45%, that assume the other 54% of the young population are dependent from the residential point of view.
Is not possible speak about emancipation of the young people only for leaving the family home. They need obtain a complete self-reliance for speak about the real emancipation.
The Financial Institutions have a specials conditions to the young people to access to a mortgage loan, but is not enough. We are in a situation where they trouble a continuous problems to access to a mortgage loan.
We identify 5 reasons:
Short working life and difficulties to access to a unlimited jobs, with periods of unemployment. It’s a perfect combination to let them tell you not.
Limited borrowing power, a couple with an income of €1.000 without savngs, in the best cases could ask for a mortgage of €180.000 to 40 years to buy a house for no more than €160.000.
The ability to sabe money of the young people of Spain not exist. This cause they are look for 100% of mortgage financing.
Traditionally, parents support their children so that they can apply for a loan, the problem is that there are increasingly more parents indebted or without employment, and with this situation are not possible use her parents like a guarantors and end up not being able to count on them.
Couples are becoming less stable; and young couples have a high incidence of rupture.
The only one problem that has solution, in certain cases, is of guarantors reach, since