The use of the ONS statistical data in this work does not imply the endorsement of the ONS in relation to the interpretation or analysis of the statistical data. [...] It’s not, in other words, the changing mix of people that has made the difference, but more the society – and perhaps particularly the economy – that they are living in that has fed the trend for staying home for longer. [...] For instance, the children of homeowners are now over twice as likely to be homeowners as the children of renters: in 2019, the homeownership rate for the children of homeowners was 51 per cent, compared to 22 per cent among the children of renters.42 While the Bank of Mum and Dad clearly plays a vital role in helping young generations get onto the housing ladder, research also indicates that thos. [...] It subsequently fell back to 11 per cent in 2019, in part due to the expansion of free childcare hours from 15 to 30 hours for working parents of three- and four-year-olds in 2017, but this remains above the initial 9 per cent of income at the turn of the century.52 Meanwhile childcare costs for households with older, school-age children (aged five to 14), which were unaffected by recent changes t. [...] However, employment among those in the early 60s (aged 60 to 65), which coincides with the median age of becoming a grandparent, rose from 28 per cent in 2005 to 47 per cent in 2022 among women and from 50 per cent to 57 per cent for men.63 One factor could be recent changes made to the State Pension age, that has resulted in the State Pension age rising from 60 to 66 for women and 65 to 66 for me.
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