Spain considering paying people $300 a month to move out of their parents’ homes

Spain is considering offering adults money to move out of their parents’ homes and it sounds like a pretty good incentive to us.

Speaking about future budgets at a UN event, Spanish President Pedro Sánchez announced the scheme on Tuesday, which, if approved by parliament, would provide 18 to 35 year olds earning less than 23,725 euros a year with 250 euros ($289) a month as a rental bonus.

In addition, the most vulnerable families may be offered additional subsidies covering up to 40 per cent of their rent.

It comes amid high youth unemployment rate, a shrinking rental market and rising rents in the country. The rate of youth unemployment currently stands at 38 per cent and culturally, Spanish adults tend to live with their families later than other countries in the EU – until around 30, according to Eurostat.

Sign up to our new free Indy100 weekly newsletter

The monthly stipend would help give young people “access to decent rental housing,” Sánchez said.

“We are talking about a fair economic recovery and this means facilitating access to housing, especially for those who are most vulnerable to precariousness, such as our young people.”

We can think of worse schemes.