NEARLY a quarter of parents still rent or live with 'the olds' themselves, says research today.
The Alliance and Leicester bank said that difficulty getting on the housing ladder meant 23% of parents were stuck in rented accommodation or living with their children's grandparents.
Of the parents who are not homeowners four in 10 said they were hoping to buy but could not afford to. Only 3% are actively looking to buy, while more than half are not even thinking about trying to get on the property ladder at the moment. And the number of parental renters is set to increase.
The bank predicts that due to soaring divorce rates, more parents are set to move out of the family home and into a rented home. This will help to push up the rental market by almost 40% by 2014.
An A&L spokesman said: "We are seeing a shift in our society which will affect the housing market."
