Seven propositions about ‘generation rent’

Abstract

ABSTRACT Intergenerational disparities in housing have emerged across countries, giving rise to narratives of “generation rent”. Despite popularization of the term across academia and public discourse, it remains nebulous, divisive, and lacking nuance. Through seven propositions, this paper synthesizes recent evidence to more accurately capture the breadth of young adults’ housing inequalities and advance debates surrounding “generation rent”. It begins by addressing its drivers, describing shifts in the political economy of (rental) housing which disproportionately disadvantage young adults. It then identifies features of “generation rent”, illuminating heterogeneity between socio-economic groups, housing situations, and rental types. Finally, it charts outcomes of housing market pressures which reshape lives and livelihoods across generations, albeit in different ways. To this end, this paper puts forward a new classification of four sub-categories conspicuous in the historically homogenized notion of “generation rent”, namely “second generation owner”, “delayed buyer”, “tenant” and “precariat”. It argues that, harnessed correctly, “generation rent” can be a useful lens to illustrate wider housing sector transformations and their effects for class-stratification and the reproduction of socio-economic inequalities.