A big problem with housing is how many people have skipped the "starter home." The two bed place they'd have their first child in, who'd be in a small box room until a younger brother or sister arrives, at which point the family would start looking for their second home.
The 2008 crash means home ownership effectively skipped a generation. The people aged 35 to about 45, now, should be onto their second homes, after paying down some debt on a starter home mortgage, the asset appreciating and leading them into a sale and then purchase of a bigger 3-bed. With so many people, with full families, and kids aged about ten and under, not being able to do that with the crash it means they're in a race for the first home to be suitable for an entire, fully fledged family. That's just not possible for many who've been paying rent for ten years when they should have been paying down a mortgage on their 'starter home.'
Add in Gen-Z who are coming into graduate jobs, and high wages, that the millennials simply didn't have access to when graduating after 2008 and there's even more pressure coming in behind from a younger generation who never had to feel the pinch on their earning income. And Gen-Z will effectively have about ten to fifteen years of extra useful income by the time they reach the age of millennials, now.
There's a lot of talk about Gen-Z having borne the brunt of the downturn, as they were kids, but fuck all people talk about millennials who lost a decade, or more, of their adulthood.
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