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Morning Briefing: millennials spending big on housing

Millennials are spending three times more of their income on housing than their grandparents, according to a study launched by a former Conservative minister today.

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Morning Briefing: millennials spending big on homes and Javid on social housing

In the news

The Guardian reports this morning that the study, by David Willetts’ Intergenerational Commission at the Resolution Foundation thinktank, warns of a “housing catastrophe”.

People aged 18-36 are spending more than a third of their post-tax income on rent or about 12% on mortgages, compared with 5%-10% of income spent by people in the 1960s and 1970s.

However, young people today are more likely to live in overcrowded and smaller spaces or face longer commutes.

Elsewhere, communities secretary Sajid Javid has written a piece for The Times about social housing, following on from his announcement at the National Housing Federation (NHF) conference yesterday that the government will be releasing a social housing green paper.

Meanwhile Alex Morton, a former and influential member of David Cameron’s policy unit at Downing Street, has written an opinion piece for Conservative Home calling for urgent action on housing.

And finally, The Guardian carries a long piece this morning about the Chelsea estate built by Edwardian philanthropist William Sutton, which is currently unoccupied under the ownership of Clarion Housing Group.

On social media

Twitter is abuzz with people looking ahead to another day at the NHF Annual Conference, with the major talking points from yesterday still hanging in the air.

What’s on

Today is the second and final day of the NHF Annual Conference in Birmingham, where housing minister Alok Sharma will be addressing an audience at 3.15pm and John Healey, shadow secretary of state for housing, will speak at 11am.

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