There's a warning more people will live in poverty when they retire, as home ownership rates among young working adults have collapsed.
New ESRI research shows 65 per cent of people aged 35-44 are likely to become homeowners by retirement, compared to the current 90 per cent of those over 65.
The number of 25-34 year olds who own their own home more than halved between 2004 and 2019, falling from 60 to just 27 per cent.
Lead author of the report, Dr Rachel Slaymaker, says lower rates of homeownership are likely to lead to higher income poverty rates.
"Policy interventions at earlier stages of the life cycle are critical to help lower the housing costs that these households will be paying when they reach retirement.
"Increasing the supply of affordable homes but also increasing direct provision of local authority and social housing."
She added that lower rates of home ownership are likely to lead to higher income poverty rates unless action's taken.