Living and working in Europe - 2024 edition

The report "Living and working in Europe - 2024 edition" is published by Eurofound, a tripartite European Union agency established to provide knowledge on social, employment, and work-related policies. The authors, including Ciara Burbridge, contribute to a comprehensive overview of living and working conditions across Europe, particularly focusing on the intertwining issues of housing, employment, and social policies.

The report highlights a significant housing crisis affecting various demographics across the EU. Private renters face the most considerable housing insecurity, with costs increasing by 23% between 2010 and 2019. A staggering 46% of private renters reported feeling at risk of losing their homes due to unaffordability. This crisis disproportionately affects low-income households and many middle-income earners who find themselves priced out of decent, secure housing.

Young people are particularly affected, with around 75% of those aged 15-29 still living with their parents, primarily due to high housing costs. In countries like Finland, 48% of young adults cite financial barriers as the main reason for not moving out. Employment no longer guarantees independence for youth, as many hold temporary or part-time roles that do not provide sufficient income to secure housing.

The report discusses the erosion of social cohesion and trust in institutions, with economic hardship contributing to low trust levels. Individuals struggling to make ends meet show significantly lower trust in both national governments and the EU. This lack of trust is further exacerbated for rural communities, which feel politically neglected and economically disadvantaged.

In response to the housing crisis, the EU is pushing for coordinated policies, including the Affordable Housing Initiative aimed at renovating 35 million buildings by 2030. However, there are concerns that without safeguards, these initiatives could lead to increased rents, further marginalizing low-income tenants.

The report emphasizes the need for targeted support to address housing insecurity, particularly for vulnerable groups such as young people and low-income renters. Early intervention strategies for eviction prevention are highlighted as essential measures. These initiatives must be proactive, offering support before eviction notices are issued.

The green transition offers opportunities to improve housing quality and affordability through energy-efficient renovations. The report stresses that successful implementation must reach low-income groups, particularly private and social tenants, to ensure equitable benefits from EU investments in sustainability.

Eurofound’s findings underscore the urgent need for a multifaceted, coordinated approach to tackle the housing crisis while ensuring social protection and inclusion. Enhanced policies are necessary to ensure that Europe’s housing landscape is secure, affordable, and sustainable for all citizens.