Generation Rent
n. People who cannot afford to buy a house, particularly in areas where housing prices have risen dramatically.

Example Citations:
Ms Williams said the idea of owning her own property still seems “a long way off” and says she feels part of Generation Rent, who cannot get a foot on the property ladder as they are unable to afford the hefty deposits demanded by mortgage providers.
—Chris Green, “Generation Rent strikes back with new ‘TripAdvisor for tenants’ site,” The Independent, May 16, 2014

Welcome to Generation Rent, the generation most familiar with contracts for work and contracts for housing.
—Paul Sheehan, “Housing crisis locks out Generation Rent,” Sydney Morning Herald, November 18, 2013

Earliest Citation:
A new generation is emerging. It’s oblivious to mortgage interest-rate hikes. Long-distance commutes to work are not an issue. Lifestyle issues are all important.

The growing “Generation Rent” challenges the notion that home-ownership is an essential aspiration.
—Bob Jordan, “Generation Rent’ opts for lifestyle over home ownership” (subscription req’d), The Irish Times, March 23, 2007

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