The Association of Private Building Societies presented its new study, "Generation Optimism – Wishes and Future Expectations of the Young Generation," as part of its "Wortwechsel" event series in Berlin. The representative survey, which involved 1,001 young people and young adults aged 16 to 24, reveals a majority optimism regarding personal future despite ongoing crises. 59 percent of respondents expressed optimism; almost two-thirds are convinced that effort and hard work can contribute to a better personal future.
Christian König, Chief Executive of the Association of Private Building Societies, stated that the young generation is willing to perform and wishes to shape their own lives and take on responsibility. He emphasised the importance of transforming performance into genuine prospects such as social advancement, security, provision, and a self-determined life, in order to maintain this optimism.
The study also uncovers a significant degree of uncertainty. Among the main concerns of the young generation are the growing risk of war, the perceived overstretching of political institutions, insecure pensions, the climate crisis, increasing social inequality, and the threat to democracy from right-wing extremism. The fear of financial insecurity in old age is particularly pronounced: two-thirds of respondents fear that their later pension or savings will not be sufficient in old age. Among young women, this proportion is 72 percent.
Mr König pointed out that politicians must take this concern about old-age poverty seriously. He called for reliable opportunities for young people to build assets early on and make private provisions. Home ownership could represent a significant component in this regard, as living rent-free in old age creates financial security and room for manoeuvre.
A strong desire for security and self-determination manifests itself regarding housing. 82 percent of young people aspire to live in their own home in the future. Only 9 percent permanently prefer to rent. Respondents cited independence, security, and freedom of design as primary motives for home ownership. While financial aspects such as capital investment or retirement provision play a role, they are not the foremost motivations.
Mr König explained that for young people, home ownership is more than an investment; it symbolises independence, stability, and personal freedom. He warned that home ownership would become a question of origin if it could only be realised through large inheritances or substantial family support.
Politically, the young generation appears engaged: 70 percent of respondents have a strong or very strong interest in politics, with this figure rising to 84 percent in East Germany. While three-quarters of respondents are satisfied with the concept of democracy enshrined in the Basic Law, many are critical of political practice. Only half are satisfied with the actual functioning of democracy. More than 90 percent agree that the interests of younger generations are not sufficiently considered by politicians. According to Mr König, this requires concrete decisions in areas such as education, affordable housing, old-age provision, and opportunities for asset building to foster trust.
