Spain wants to pay 20-somethings nearly $300/month to move out of their parents' homes

If a proposal passes, Spanish Millenials may finally get the opportunity to move out of their childhood bedrooms. A housing bill announced on Tuesday includes a program to pay young people aged 18-35 €250 per month ($290 USD) to move into their own place. The initiative would apply to adults who earn less than €23,725 ($27,398) per year. The announcement comes amid a shrinking rental market and pandemic-ravaged economy with a 38% unemployment rate.

Spain has one of the highest rates of homeownership in the EU, with many young people forced to live with parents due to high rents, low wages, and high unemployment. On average, people in Spain leave their parents' homes aged 30, compared to the EU average of 26.4 years old.

The bill comes at a time when Europeans are facing a growing housing crisis, from London to Berlin. This month, Berlin voted to expropriate housing off mega landlords to battle growing rents, a move that could see 240,000 flats come back into public control.